Public Finance Corp. completes $410M bond issue
June 14, 2012
The Puerto Rico Public Finance Corporation placed and sold $410 million in bonds in the local market, the proceeds of which the agency will use to refinance existing debt and save $6.6 million in interest payments.
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S&P downgrades gov’t debt to ‘negative’ from ‘stable’
June 7, 2012
Standard & Poor's Ratings Services has revised its outlook for the Puerto Rico government’s general obligation (GO) and appropriation debt ratings to negative from stable.
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Economist: Sustainability in public finances ‘critical’ to recovery
May 21, 2012
It is the general belief that it is bad for a government to have a deficit or be shoulder-deep in debt. However, while it is “perfectly legitimate” for public administrations to have shortfalls and finance them with debt, what is dangerous is when the practice leads to unsustainability.
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