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Moody’s cuts Puerto Rico’s rating further into junk | World Finance

Moody’s demotes Puerto Rico’s credit rating further into junk status as the US Commonwealth struggles with rising debt and an ailing economy

On May 21, Moody’s Investors Service announced that it had cut Puerto Rico’s credit rating further into junk status. The island, which is an unincorporated territory of the US, is sinking further into debt and economic despair, making the likelihood of completing its repayments that are due before the year-end of fiscal 2015 increasingly unlikely.

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