High court rules against Puerto Rico in debt case

WASHINGTON (AP) — Puerto Rico can’t use a local law to restructure the debt of its financially ailing public utilities as it tries to overcome a decade-long economic crisis, the Supreme Court ruled Monday.
The 5-2 ruling said that federal bankruptcy law bars Puerto Rico from enacting its own law to restructure about $20 billion in debt. The decision means the U.S. territory must wait for Congress to pass debt-relief legislation that would address its fiscal woes.
Puerto Rico lawmaker