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:
“The commitment of companies in the telecommunications industry is evident, but it is necessary to emphasize the importance of creating the right conditions for doing business on the island.
Energy and permitting issues remain major challenges. We’re confident that with close collaboration between the public and private sectors, the ideal business climate can be created to protect what has been achieved and maximize opportunities for Puerto Rico.”
— Pedro G. Andrés, president, Puerto Rican Telecommunications Alliance (APT)
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