Moody’s cuts PREPA credit rating to Baa2 from Baa1
December 18, 2012
The chain of rating downgrades affecting Puerto Rico’s credit added yet another link Monday, when Moody's Investors Service cut the rating on approximately $8.0 billion of outstanding power revenue bonds held by Puerto Rico Electric Power Authority's to Baa2 from Baa1.
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AGP: Moody’s actions further signal need for fiscal discipline
December 17, 2012
Governor-elect Alejandro García-Padilla said the recent downgrade by Moody’s Investors Service of the Commonwealth of Puerto Rico’s General Obligation bonds “further signal the need for fiscal discipline at the central government and in our public corporations.”
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Gov.-elect names more economic team members
December 12, 2012
Gov.-elect Alejandro García-Padilla revealed Tuesday the identities of several more members of its economic team, who will take office in January — several of which are already familiar faces in government.
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Analysis: Rescinding airport P3 could cost gov’t up to $8M, lawsuit risk
November 12, 2012
If the Puerto Rico government were to walk away from the public-private partnership that turns over the responsibility of managing and operating the Luis Muñoz Marín International Airport to Aerostar Holdings, it would have to compensate the consortium with as much as $8 million for its troubles, according to the 40-year lease agreement signed earlier this year.
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Gov’t expands services available via pr.gov
October 25, 2012
Looking to make it easier for citizens to interact with public agencies, government officials announced Wednesday the addition of six new services pr.gov, expanding the 280 already available through the website that has generated more than 10 million transactions since its launch in 2010.
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SBA OKs $880K in int’l trade loans in Puerto Rico, USVI
October 23, 2012
The U.S. Small Business Administration approved nine International Trade Loans in favor of exporters in Puerto Rico and the U.S. Virgin Islands in Fiscal 2012, totaling $880,000, the agency said Monday.
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EPA grants Puerto Rico $46M for clean water projects
October 17, 2012
The U.S. Environmental Protection Agency has awarded $46 million to Puerto Rico to help finance improvements to water projects that are essential to protecting public health and the environment. The funds will primarily be used to upgrade sewage plants and drinking water systems throughout the island.
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Puerto Rico gov’t would ground airport P3 if FAA rejects
October 10, 2012
Puerto Rico Public Private Alliance Authority Executive Director David Álvarez acknowledged Tuesday that if the Federal Aviation Administration fails to give its go-ahead to the Luis Muñoz Marín International Airport P3, the government would not pursue another such deal.
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SBA supports record $30.2B in loans in Fiscal ’12
October 10, 2012
With loan volume steadily increasing for the past six quarters, the U.S. Small Business Administration’s loan programs posted the second largest dollar volume ever in Fiscal 2012, supporting $30.25 billion in loans to small businesses, the agency informed Tuesday.
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$26.8M assigned for VA Hospital parking facility
October 4, 2012
The U.S. Department of Veterans Affairs has awarded a $26.8 million contract to design and construct a parking garage at the Veterans’ Hospital in San Juan.
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Watchdog committee to monitor government purchases
September 26, 2012
The Puerto Rico Office of the Inspector General and the Puerto Rican Industry Investment Board signed an agreement Tuesday establishing a specialized unit to monitor the government’s purchasing process and ensure that priority is given to locally made products.
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SBA grants Puerto Rico $455K for exports
September 25, 2012
Forty-seven states, Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands and the District of Columbia will receive $30 million total from the U.S. Small Business Administration in a second round of funding to support efforts to increase exporting by small businesses.
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Puerto Rico Medicare beneficiaries save $110M under ‘Affordable Care Act’
September 24, 2012
Since its enactment by the federal government in 2010, the Affordable Care Act has already saved more than 45,000 Medicare beneficiaries in Puerto Rico a total of $111.4 million on the cost of prescription drugs, Resident Commissioner Pedro Pierluisi said Sunday.
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Businesses warming up to govt’s online bidders registry
September 21, 2012
More than 2,000 Puerto Rican companies have received their digital certifications through the government’s online bidders registry launched four months ago, General Services Administration Chief Olga M. de Cardona-Martínez told News is my Business.
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Data gathering starts for ’12 Puerto Rico Economic Census
September 19, 2012
U.S. Census Bureau and Puerto Rico Planning Board officials announced Tuesday the start of the question-and-answer cycle to gather data on the island’s economic activity.
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