Wealth & Risk Management Blog

William Byrnes (Texas A&M) tax & compliance articles

Which University May Be The 3rd (since 1986) to Default on Its Debts?

Posted by William Byrnes on November 17, 2015


University of Puerto Rico likely headed toward first credit default: S&P – Read the full story at Reuters.  Bankrupt

CNN reported that “The commonwealth paid a mere $628,000 toward a $58 million debt bill due in early August to creditors of its Public Finance Corporation.  This will hurt the island’s residents, not Wall Street. The debt is mostly owned by ordinary Puerto Ricans through credit unions.”

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