Puerto Rico officials sought to quell bankruptcy concerns over the commonwealth's issuers, calling such an outcome "completely out of the question" on an investor call Tuesday afternoon.

Immediate reaction to the call was limited as most trading in the commonwealth's bonds took place in the morning session. Still, traders said on first look, the revenue and expenses for fiscal 2014 are "moving in the right direction," and that they were reassured by Puerto Rico officials that "everything necessary" would be done to to honor Puerto Rico's commitments.

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