Official Says Puerto Rico Unlikely to Repay Millions Raided From Comp Fund

The U.S. territory of Puerto Rico likely won’t be able to repay funds raided from its monopolistic workers’ compensation carrier to make good on bond payments that were due at the start of the year, according to U.S. officials trying to find a way for the island to deal with its crippling debt. The government used millions of dollars borrowed from the Puerto Rico State Insurance Fund — Corporacion del Fondo del Seguro del Estado, as it’s known to locals — to pay of $328 million in general obligation debt that was due on Jan. 4. But even with the raid, t...