Puerto Rico says will default on $779 million of senior debt

SAN JUAN (Reuters) - Puerto Rico on Friday said it will default on $ 779 million worth of constitutionally backed debt, its most senior bonds, making good on threats that the island would choose paying essential services for its citizens over obligations to creditors.

Reuters: Politics

Puerto Rico authorizes debt payment suspension; Obama signs rescue bill

SAN JUAN (Reuters) - Puerto Rico authorized suspension of payments on its general obligation debt on Thursday just minutes after U.S. President Barack Obama signed a law creating a federal oversight board with authority to negotiate the restructuring of the island's $ 70 billion in debt.

Reuters: Politics