This archive report was first published on 27 September 2019.
On December 2012, Puerto Rico issued general obligation bonds that would become a focal point of the island's financial crisis.
Just a year later, in February 2014, Moody's downgraded Puerto Rico's general obligation bonds to junk status, sending their values plummeting.
By June 2015, the situation had worsened, with bond prices tumbling further after Puerto Rico's governor announced plans to ask bondholders to accept less than they were owed.
Then, in September 2017, Hurricane Maria devastated the island, causing bond values to plummet amid fears that Puerto Rico would never be able to pay its debt.
