S&P lowers Puerto Rico's PRIFA to 'default' after missed payment

Townhall.com Staff
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Posted: Jan 05, 2016 3:14 PM
(Reuters) - Standard & Poor's Ratings Services on Tuesday downgraded Puerto Rico Infrastructure Authority bonds secured by rum taxes to 'D' (default) from 'CC' with a negative outlook a day after the authority defaulted on a roughly $36 million interest payment.