June 10, 2014 / 3:20 PM / 4 years ago

Puerto Rico GO debt lowest this month on measures to plug tax shortfall

NEW YORK, June 10 (Reuters) - Puerto Rico’s general obligation debt traded at its lowest level this month on Tuesday after the U.S. Commonwealth announced it may delay payments to the Government Development Bank as well as the pension system in order to plug a tax shortfall.

General obligation debt that carries an 8 percent coupon and a maturity date on 2035 traded at an average price of $89.188, according to data from Municipal Market Data, the lowest it has traded at since May 29. (Reporting by Edward Krudy; Editing by James Dalgleish)

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