One of the key question for investors still holding Puerto Rican debt:  Will the markets and rating agencies react positively to the fact that Puerto Rico appears headed in the right direction?   Or will the markets and rating agencies focus on the currently troubling state of the debt in Puerto Rico.   If markets and rating agencies fail to factor in the direction – rather than the state – of Puerto Rico’s debt situation,  then changes designed to get some of Puerto Rico’s agencies to work without central government assistance may not be enough.   Some of the smarter minds in Puerto Rico believe finding a way to privatize these agencies may be the necessary jolt needed to adequately reduce the debt and stabilize the financial situation in Puerto Rico.