Iron ore will recover. Soon.
If not US protective tariff will help American steel makers.
China soon to launch new construction project after this stock market melt down.
Win Win Win situation.
Puerto Rico currency is US Dollar. Banks are FDIC insured. BPOP won bank of the year award from banking indutry for her soundness of operation. Asset quality.
Highly unlikely they own any PR debt given their intimate knowledge of Puerto Rico. They also have sizable US mainland operations because of PR emigrants here.
Loan default by PR not expected to harm PR economy. Freed from old debt. They will be able to borrow money again.