Standard & Poor's downgraded Puerto Rico last week to CCC+, giving
the perennially struggling U.S. territory the same credit rating as Greece.
Puerto Rico has been called "Greece in the Caribbean" or "America's
Greece" in light of its poor credit ratings, high debt levels and flagging
economy with high unemployment. But the situation is much less dire
for the American territory than it is for Greece, in part because Puerto
Rico's debt levels are a much lower percentage of its GDP, compared
with Europe's "sick man"...[CONTINUE READING]