Four firms will provide legal, accounting and financial services to help small businesses access financing. #NewsismyBusiness
A V2A Consulting study found strong asset quality and capitalization in local banks, which are also driving socioeconomic development. #NewsismyBusiness
According to the study, 40% of surveyed Puerto Ricans prefer debit or credit cards for in-person purchases. #NewsismyBusiness
The island’s Economic Development Bank partners with the U.S. Treasury to expand credit options. #NewsismyBusiness
Credits for low-income seniors and pensioners are available to claim on the SURI platform until Oct. 16. #NewsismyBusiness
Kiwi plans to use the funding to continue to expand its services and reach more customers across the US and Latin America. #NewsismyBusiness
Millennials in Puerto Rico carried the least amount of credit card debt of any state, with an average balance of $2,906 per person, in the first quarter of 2019, according to a study conducted by credit reporting agency Experian. Mississippi millennials had the second-lowest debt, with an average credit card balance of $3,887. These balances […]
A.M. Best has kept its negative outlook about Cooperativa de Seguros de Vida de Puerto Rico’s staying power and efficiency, by upholding its Financial Strength Rating of C+ (Marginal) and the Long-Term Issuer Credit Rating of “b-” remain unchanged.
Puerto Rico Gov. Ricardo Rosselló, announced an agreement in principle with the United States Department of Treasury which will allow employers that were not able to operate their businesses — after Hurricanes Irma and María — to claim a credit of up to $2,400 for each employee that was paid a salary during said period.
Puerto Rico Electric Power Authority bondholders can expect to recover about 35 percent of their investments due to the business disruption and costs, as well as lost revenues related to damage caused by Hurricanes Irma and María, Moody’s Investors Service predicted in a report released Thursday.
Moody's Investors Service has placed the Ba3 rating on Sacred Heart University’s General Revenue and Refunding Bonds, 2012A on review for downgrade.
In what could represent the first positive for Puerto Rico in its litigation with creditors and insurance companies over debt repayment, two monoline insurers — National Public Finance Guarantee Corp. and Assured Guaranty withdrew their complaints against the Commonwealth’s Fiscal Plan.
Moody’s Investors Service's July 6 downgrade of the Puerto Rico Electric Power Authority’s credit rating to from Caa3 to Ca reflects “the increased uncertainty that now exists regarding the outcome and the timing of a future debt restructuring plan for PREPA, which in the end will lower bondholder recoveries.
Moody's Investors Service on Wednesday lowered the ratings on debt of the Government Development Bank and five other Puerto Rico issuers, with a total of approximately $13 billion outstanding.
S&P Global Ratings on Thursday removed its CreditWatch negative placement on Autopistas Metropolitanas de Puerto Rico, LLC and affirmed its 'BBB-' rating on the company’s $435 million senior secured notes due 2035. The outlook is negative.
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