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Puerto Rico worries pummel bond insurer stocks

As Puerto Rico struggles to pay off its $72 billion in debt, uncertainty on the island is hitting shares of bond insurers.
Source: The Associated Press
Sector Snap: bond insurers fall on Puerto Rico woes

NEW YORK- Shares of bond insurers tumbled Monday after Puerto Rico's governor said the U.S. territory had little hope of paying its $72 billion debt. Puerto Rico's bonds are popular with U.S. mutual funds because they are tax-free, but hedge funds and distressed-debt buyers began stepping in to buy up debt as the island's economy worsened and its credit rating...
Source: The Associated Press