[CreditGuy]

PR is a risky play right now given they are, as a territory, budgetarily ****ed and the labor market is similarly bent over. Due to a bizarre set of circumstances they are shuttering public services and laying off government workers in droves to try to solve their debt issue because their constitution mandates they pay bond holders prior to running public services like hospitals and schools. Unemployment is 12%, double the US average. Seeing as the majority of PR is on government assistance or a government employee, any business there is likely in the throes of serious macroeconomic disruption and considerable uncertainty writ large. Since 2009-2010 they have laid off a quarter of the government labor force, and government employees still account for 1 in 3 employees on the island. Another 1/3 is on public assistance, and those two groups aren't entirely mutually exclusive. Congress is currently considering a bill to remove the law that estops PR from filing sovereign BK, but unfortunately regardless of the outcome they are pretty hosed in the short-medium term. I wouldn't lend into PR right now for any reason. Good luck and godspeed.

[Christian]

PR is a risky play right now given they are, as a territory, budgetarily ****ed and the labor market is similarly bent over. Due to a bizarre set of circumstances they are shuttering public services and laying off government workers in droves to try to solve their debt issue because their constitution mandates they pay bond holders prior to running public services like hospitals and schools. Unemployment is 12%, double the US average. Seeing as the majority of PR is on government assistance or a government employee, any business there is likely in the throes of serious macroeconomic disruption and considerable uncertainty writ large. Since 2009-2010 they have laid off a quarter of the government labor force, and government employees still account for 1 in 3 employees on the island. Another 1/3 is on public assistance, and those two groups aren't entirely mutually exclusive. Congress is currently considering a bill to remove the law that estops PR from filing sovereign BK, but unfortunately regardless of the outcome they are pretty hosed in the short-medium term. I wouldn't lend into PR right now for any reason. Good luck and godspeed.

Business also operate with a very different mentality over there. There is no sense of urgency for anything... Ever. Much less a financing application.

[HDF]

Business also operate with a very different mentality over there. There is no sense of urgency for anything... Ever. Much less a financing application.

Also true. I'm talking about business already in the process.

[aredmond]

PR is a risky play right now given they are, as a territory, budgetarily ****ed and the labor market is similarly bent over. Due to a bizarre set of circumstances they are shuttering public services and laying off government workers in droves to try to solve their debt issue because their constitution mandates they pay bond holders prior to running public services like hospitals and schools. Unemployment is 12%, double the US average. Seeing as the majority of PR is on government assistance or a government employee, any business there is likely in the throes of serious macroeconomic disruption and considerable uncertainty writ large. Since 2009-2010 they have laid off a quarter of the government labor force, and government employees still account for 1 in 3 employees on the island. Another 1/3 is on public assistance, and those two groups aren't entirely mutually exclusive. Congress is currently considering a bill to remove the law that estops PR from filing sovereign BK, but unfortunately regardless of the outcome they are pretty hosed in the short-medium term. I wouldn't lend into PR right now for any reason. Good luck and godspeed.

Credit Guy is like the Einstein of this forum, is there something that you don't know?