Government Development Bank of Puerto Rico President Juan Carlos Batlle recently addressed a group of UBS clients on the outlook for the island’s credit as part of the company’s “UBS Speaker Series” cycle that began earlier this year.
The Gov. Luis Fortuño administration sent a scathing letter to Moody’s Investor Services late Thursday, expressing its “utter disappointment” with the agency’s decision to downgrade the Puerto Rico Sales and Use Tax Financing Corporation’s bond rating.
The Government Development Bank turned to the bond market last week, issuing $450 million in debt in less than a day, and will repeat the action again in two weeks, when it will seek to raise another $1.1 billion, agency President Juan Carlos Batlle said Thursday.
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