Moody’s Investors Service has placed the ratings of $6.8 billion outstanding Puerto Rico Sales Tax Financing Corporation's senior sales tax revenue bonds' Aa2 rating and $9.2 billion in subordinate sales tax revenue bonds' A1 rating on review for possible downgrade, the agency announced Tuesday.
BBVA recently participated in the structuring and approval of a $250 million revolving credit facility for the Puerto Rico Health Services Administration, which runs the government’s “Mi Salud” health plan covering more than 1.5 million beneficiaries.
Contrasting Puerto Rico’s current economic conditions with those of the U.S. mainland’s, Gov. Luis Fortuño said the “U.S. is starting to suffer the consequences of not acting immediately” to its escalating fiscal troubles.
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