White House says still not considering Puerto Rico bailout
WASHINGTON Feb 5 (Reuters) - The White House said on Wednesday it was still not considering a bailout for Puerto Rico after Standard & Poor's on Tuesday cut its credit rating to junk status.
A White House spokeswoman declined to comment about the S&P move specifically but said the administration's position had not changed since Jan. 22, when she said that no "deep federal assistance" was being contemplated.
With roughly $70 billion of tax-free debt, Puerto Rico's economy has for months been under threat of a ratings downgrade by all three U.S. credit ratings agencies.
- Nurse defies Ebola quarantine with bike ride; negotiations fail |
- Suspect in Pennsylvania police ambush captured after seven-week manhunt
- Japan shares soar, yen skids after BOJ stuns with more easing steps
- Oil price declines have small-cap shale investors scrambling
- China says nets 180 graft suspects in overseas manhunt