Puerto Rico Draws Bondholders' Ire for Comments on Debt Talks
- Territory facing May 1 deadline to avoid mire of lawsuits
- Lawyer says statements suggest island ‘comfortable in default’
Pedestrians walk along Calle Fortaleza in Old San Juan, Puerto Rico.
Photographer: Derick E. Hingle/BloombergThis article is for subscribers only.
Puerto Rico’s negotiations with bondholders don’t appear off to a promising start.
Less than a week after an initial meeting between creditors and the crisis-wracked Caribbean island, a lawyer for a group of hedge funds and other owners of Puerto Rico’s general-obligation bonds issued a statement criticizing Elias Sanchez, a top aide to Governor Ricardo Rossello, for speaking publicly about the talks at a conference in San Juan.