Puerto Rico's debt cut to junk

Puerto Rico's debt cut to junk BBC News - Puerto Rico's debt cut to junk status by Fitch 11 February 2014Last updated at 13:13 ET Share this pageDeliciousDiggFacebookredditStumbleUponTwitterEmailPrint Puerto Rico's debt cut to junk status by Fitch Puerto... More

Puerto Rico's debt cut to junk BBC News - Puerto Rico's debt cut to junk status by Fitch 11 February 2014Last updated at 13:13 ET Share this pageDeliciousDiggFacebookredditStumbleUponTwitterEmailPrint Puerto Rico's debt cut to junk status by Fitch Puerto Rico's jobless rate is twice that of the US and it's economy has been in recession since 2006Continue reading the main story Related StoriesPuerto Rico profile US drills 'did not cause illnesses'Puerto Rico votes to be US stateFitch Ratings joined Standard and Poor's and Moody's in cutting Puerto Rico's debt to junk status, as the island's debt problems worsen. Puerto Rico's debt is 93% of the island's gross domestic product - a ratio that is higher than that of Spain. The island's economy has contracted every year since 2006. Also on Tuesday, Puerto Rico said it planned to issue general obligation bonds to help with liquidity problems. Although Puerto Rico's tax-free status has been appealing to investors, recently it has struggled wi Less