Gov. Luis Fortuño’s administration has three months to show Moody’s Investors Service that it is taking enough — and correct — action to address the Commonwealth Retirement System’s $28 billion funding shortfall to avoid a possible downgrade of its current A3 rating.
He is an urban planner who lives on a five-acre farm in rural Vega Baja with his wife and a bunch of animals. But make no mistake about it, Ruben Flores Marzán, who was named Puerto Rico Planning Board president less than a month ago, is not horsing around when it comes to development.
Some 1,500 Puerto Rico homeowners facing the possibility of foreclosure may be able to qualify for a new $20 million emergency assistance program unveiled Friday by the Puerto Rico Housing Financing Authority, in agreement with local banks.
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