Judge Approves Deal to Resolve Puerto Rico Bankruptcy

The plan restructures $33 billion in debt nearly five years after Puerto Rico became the first U.S. state or territory to essentially declare bankruptcy.

Judge Approves Deal To Resolve Puerto Rico Bankruptcy

The New York Times – by Patricia Mazzei

MIAMI — Puerto Rico received approval from a federal judge on Tuesday to leave bankruptcy under the largest public sector debt restructuring deal in the history of the United States, nearly five years after the financially strapped territory declared that it could not repay its creditors.

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