S&P cuts Puerto Rico’s GO bonds to ‘B’ from ‘BB’
February 13, 2015
Standard & Poor's Ratings Services pushed Puerto Rico’s general obligation rating further into junk Thursday when it lowered it 'B' from 'BB,’ with a negative outlook.
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Preliminary July revenue reaches $624M, up 26% YOY
August 8, 2014
The Puerto Rico Treasury Department reported Thursday preliminary revenue for July 2014, the first month of the current fiscal year, reached $624 million, up $129 million, or 26 percent, from the total on record for the same month last year.
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Puerto Rico Jan. revenue haul at $664M; IVU at $129.9M
February 11, 2014
Puerto Rico’s General Fund revenue collections for the month of January amounted to $664 million, a figure that is $1 million less than the same period last fiscal year, but that Treasury Secretary Melba Acosta described as a “record.”
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Puerto Rico GDB discloses more public data on website
October 24, 2013
The Government Development Bank for Puerto Rico announced Wednesday that, as part of its efforts to increase transparency and improve investor relations, it has made additional disclosure materials available on its website.
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S&P revises outlook on Puerto Rico COFINA bonds
October 1, 2013
Basing its assessment on Puerto Rico’s declining economy and population, Standard & Poor's Ratings Services revised Monday its outlook on Puerto Rico Sales Tax Financing Corp.'s (known as COFINA) first- and second-lien bonds to negative from stable.
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Treasury, GDB looking to broaden COFINA’s capacity
September 26, 2013
The government’s economic team, headed by Puerto Rico Treasury Secretary Melba Acosta and Government Development Bank Interim President José Pagán confirmed the introduction of a bill to expand the Sales Tax Fund Financing Corporation's (COFINA, by its Spanish acronym) capacity to issue bonds and facilitate the execution of a more cost-effective financing for the Commonwealth.
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GDB sends scathing letter to Moody’s over ratings cut
July 20, 2012
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.
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OMB Chief: ‘We strongly reject’ Moody’s $16B COFINA bond rate cut
July 18, 2012
In what may constitute as the latest setback in Puerto Rico’s attempt to put the economy back on track, Moody's Investors Service announced Wednesday its decision to downgrade $16 billion in Puerto Rico Sales Tax Financing Corporation bonds.
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