Puerto Rico Defaults on Payment Due for Bonds.

The article states that the government of Puerto Rico defaulted on most of a $58 million bond payment due on August 3, 2015. According to the article, it was the first missed payment since Puerto Rico governor Alejandro García Padilla announced in June 2015 that the country's debts were unsustainable. The article states that the bank the Government Development Bank of Puerto Rico claimed that the Puerto Rican legislature failed to set aside money for the appropriations bonds. The article presents comments from investor service firm Moody's Investors Service vice president Emily Raimes.