(Bloomberg) -- Two weeks ago, Puerto Rico was spared adevastating hit when Hurricane Irma ripped up the Caribbean. Thistime, it may not be so lucky.

Bankrupt island


The bankrupt island, already contending with the aftermath of astorm that left as much as $1 billion of damage and hundreds ofthousands still without power, faces even more upheaval withHurricane Maria set to hit as soon as Tuesday night.

The government ordered rationing of basic necessities, includingwater and batteries, although those items were already gone fromsome San Juan store shelves as residents prepared for what could bethe worst storm for the U.S. territory in decades.

'There has never been an event like this in our history'


“If you are in a flood zone or in a wood house, your life is indanger,” Governor Ricardo Rossello said during a pressconference Monday in San Juan. “There has never been an event likethis in our history in the last 100 years. Our call is for allcitizens to move to a safe place.”

Puerto Rico is facing an active hurricane season with littlefinancial ability to navigate a natural catastrophe. It filed forbankruptcy in May after years of economic decline and borrowing tofill budget gaps. A series of defaults have effectively left itunable to raise money in the capital markets. And its aginggovernment-owned electric utility, the Electric Power Authority, isalso operating under court protection from creditors.

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