There are increased concerns that Puerto Rico is about to default , as a major debt service deadline looms , with analysts eyeing the December 1 , when the $ 355 m of notes issued by the Government will come due , as the litmus test to see if the island is willing to make tough decisions to avoid a default . Moody 's has predicted that Puerto Rico will default on an at least a portion of its debt obligations in the coming weeks , which will be the second default by the island to date . Puerto Rico does not have the funds to meet all of its maturing obligations , which come to over $ 1bn , due in coming weeks , and will have to make the decision as to what debts to pay and which will default .
There are increased concerns that Puerto Rico is about to default, as a major debt service deadline looms, with analysts eyeing the December 1, when the $355m of notes issued by the Government Development come due, as the litmus test to see if the island is willing to make tough decisions to avoid a default. Moody's has predicted that Puerto Rico will default on an at least a portion of its debt obligations in the coming weeks, which would be the second default by the island to date. Puerto Rico does not have the funds to meet all of its maturing obligations, which come to over $1bn, due in coming weeks, and will have to make the decision as to what debts to pay and which will default.