Fitch Ratings announced Thursday it has downgraded the Commonwealth of Puerto Rico's general obligation and related debt ratings to 'B' from 'BB-' and placed them on Rating Watch Negative.
A number of prominent private-sector leaders expressed their support Tuesday of Senate Bill 837, which proposes to create the Puerto Rico Energy Regulatory and Oversight Commission to, among other things, begin reeling in local electricity costs.
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QUOTE OF THE WEEK:
“In today’s environment of heightened uncertainty, consumers are encouraged to prioritize financial prudence, disciplined expense control and effective budgeting to mitigate further stress on their finances.
A ‘wait-and-see’ approach may serve the Fed, but not consumers.”
— Leslie Adames, director of analysis and economic policy, Estudios Técnicos
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