Yesterday's NY Times included a long essay discussing whether or not Detroit's bankruptcy was a model for a solution to Puerto Rico's $72 billion debt burden.

One of the individuals cited claimed that Detroit still has no access to the ordinarily muni market and that bond investors are reluctant to buy Michigan bonds. Is that true? Did the interest rate Michigan had to pay for short or long term borrowing go up as a result of Detroit's bankruptcy?

Thanks.

I infer that most of those who hold Puerto Rican bonds strong oppose the idea that Congress might let Puerto Rico declare bankruptcy. As I understand, Congress must change a law to allow Puerto Rico to request bankruptcy.