“Note: Due to lack of clarity from Puerto Rico officials about how they were treating $575 million in debt service refinancing in its budget and deficit calculations, this story in its original form provided an incorrect deficit percent. The fiscal 2014 deficit is 7.9% of planned expenditures, not 8.4%, as the story had stated.”

Puerto Rico Gov. Alejandro García Padilla signed a fiscal 2014 budget with a 7.9% operating deficit on Sunday.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.