Articles Posted in Puerto Rico closed-end funds

According to Bloomberg News Puerto Rico’s general obligation bonds were cut one step to speculative grade, otherwise known as “junk” status, by Standard & Poor’s citing reduced access to liquidity.  The territory has $16.2 billion of debt as of June 30, according to the Government Development Bank for Puerto Rico. …

On October 1, 2013, Victor Gómez, Jr. a retired auto executive filed an action against UBS for investment fraud related to Puerto Rican bonds. According to the Caribbean News, this is the first of  many legal actions expected to be filed in FINRA against UBS Financial Services, Inc. Mr. Gómez and his…