Puerto Rico fails to provide fiscal 2014 report by deadline

Fiscal trouble: Members of a labor union shout slogans while holding a Puerto Rico flag during a protest in San Juan in September. The island is seeking to reduce its US73bil debt load by negotiating with investors. — Reuters

SAN JUAN: Puerto Rico failed to submit audited financial statements for fiscal 2014 by a self-imposed Oct 31 deadline, according to a Municipal Securities Rulemaking Board filing.

The commonwealth’s annual report for the fiscal year ended June 30, 2014 was 181 days late, the longest that Puerto Rico has been overdue on its yearly audited statements since at least 2000, according to Daniel Hanson, an analyst at Height Securities, a Washington-based broker dealer.