The task of repairing Puerto Rico’s retirement systems debacle, which credit rating agencies have warned could affect the island’s credit rating, will require “tolerance, capacity for frank dialogue, a commitment to negotiate in good faith and willingness to make and honor concessions by retirees, current government employees and the general public.”
Local drugstore operator Farmacia Sally has secured a $1.5 million loan from Scotiabank de Puerto Rico to build a second location in Río Grande that will be completely “green,” company officials said.
The island’s reverse mortgage market is getting more competitive this week with the arrival of Atlanta-based Generation Mortgage, which is introducing its retail banking services to the market.