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Puerto Rican municipal bonds have appeared to be a lucrative investment for many U.S. citizens; they yield high interest rates and are tax-free for investors in all 50 states. But is Puerto Rico a safe investment?

"We see Puerto Rico as the weakest of all states by far," says Donahue. "Debt as a percentage of GDP dwarfs any other state. Do we think they're going to default? Certainly not. What we want is to raise the attention of investors in America that there are risks in Puerto Rico and that the path they're on is unsustainable."|related|story...
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