I buy for my personal account individual muni bonds and have been doing it for 20 years. I bought California bonds (when they said it was going broke), I bought Illinois bonds (when they said it was going broke), I am currently buying O'Hare Airport and LA County bonds......but I am not buying PR bonds. States (as opposed to municipalities and authorities) cannot file for bankruptcy under the Constitution. A territory like PR "supposedly" cannot file based upon some precedent involving the Northern Mariana Islands in 2012 where its case was rejected. In all likelihood the federal government may need to impose financial oversight like it did to Washington DC years ago--but who knows. Detroit had debt of about $25,000.00/resident and filed. PR is in about the same position. This is a risk issue which I am not personally comfortable with. Many who own muni funds continue to own PR without realizing it. That is why I always prefer to buy the individual bonds myself in addition to the greater control I have over taxes and maturities. If you want to roll the dice with a small amount (which amount varies for each of us) I see no harm.