No, Puerto Rico is neither a state, nor a nation. Puerto Rico is a colony of the United States. This article again, makes poor comparisons in order to propagate the Wall Street credo: Pay Us Now No Matter What The Consequences Are. Wall Street investors should have been more informed on Puerto Rico and the cyclical nature of financial disasters that are natural in capitalism. Letting an island with 3.5 million citizens of the United States to fall into chaos to accomodate the ill-informed wealthy investors is moral, social irresponsibility. Blame also the US government for not protecting its colony from predatory lenders from Wall Street.
http://www.businessinsider.com/a-word-of-warning-for-muni-bond-owners-dont-own-the-next-detroit-2016-8