Detroit 'Contagion' Spreads; Widely-Held Puerto Rico Muni Bonds Collapse

``With its borrowing costs increasing, it is questionable whether Puerto Rico will be able to successfully borrow, said Dan Solender, director of municipal bond management at Lord Abbett. "The cost might be high while the risk aversion is strong and the outflows continue," he said... About 77% of U.S. mutual funds hold some sort of Puerto Rico debt, according to Morningstar. ''