Sen. Ron Wyden (D-Oregon), chairman of the committee that oversees U.S. territories, pressed Puerto Rico to choose between statehood and independence, a decision that could eliminate the market's biggest supplier of triple-tax exempt bonds.

"The rejection of the current territory status last November leaves Puerto Rico with only two options: statehood under U.S. sovereignty or some form of separate national sovereignty," Wyden said Thursday at a a hearing of the Senate Committee on Energy and Natural Resources.

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.