Puerto Rico's PRASA Lacks Bond Insurance in New $750M Debt Raise

NEW YORK (The Deal) -- The Commonwealth of Puerto Rico is including some attractive features in the $750 million bond that its water and sewer utility is issuing, but sources say that it lacks one element that would make investors much more comfortable: bond insurance. The island is tapping debt markets for the first time since its default on a $58 million payment due Aug. 1 to its Public Finance Corp. bondholders. Must Read: 10 Stocks Carl Icahn Is Buying Puerto Rican government officials have...