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 . Read More Puerto Rico is edging closer to bankruptcy 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 $ 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 .