Government Development Bank President Melba Acosta came down hard on Moody’s Investors Service’s decision to downgrade the Commonwealth’s credit rating deeper into junk status by saying the move shows “ratings agencies are totally out of tune with what’s happening” in Puerto Rico.
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.
Puerto Rico’s co-op sector is expected to experience a “reduced impact” as a result of last week’s triple downgrade of Puerto Rico’s credit to junk by U.S. ratings agencies.
The Pharmaceutical Industry Association of Puerto Rico (PIA) expressed “extreme concern” with the critical situation Puerto Rico is facing will be going through in the near future, magnified by the recent credit downgrade by Standard & Poor’s and Moody’s, which the trade group said will “require us to make essential changes in the way the […]
The decision Tuesday by Standard & Poor’s to downgrade Puerto Rico’s rating to junk status has prompted swift reaction from private sector components, which have stepped forward to offer their expertise to help the government dig out of its fiscal hole.
As word of the decision taken by Standard and Poor’s to downgrade Puerto Rico’s credit rating to junk level, the island’s biggest trade groups spoke out. Following are their individual statements.
Moody's Investors Service announced Tuesday its decision to downgraded the corporate family rating of Liberty Cablevision of Puerto Rico LLC, specifically the part of the business related to OneLink, to B3 and its probability of default rating to B3-PD, concluding the review for downgrade initiated May 9.
The chain of rating downgrades affecting Puerto Rico’s credit added yet another link Monday, when Moody's Investors Service cut the rating on approximately $8.0 billion of outstanding power revenue bonds held by Puerto Rico Electric Power Authority's to Baa2 from Baa1.
Governor-elect Alejandro García-Padilla said the recent downgrade by Moody’s Investors Service of the Commonwealth of Puerto Rico’s General Obligation bonds “further signal the need for fiscal discipline at the central government and in our public corporations.”
Moody's Investors Service has placed the University of Puerto Rico's ratings on Watchlist for possible downgrade, affecting $652 million of rated debt issued through AFICA, as the as the Authority of Financing for Industrial, Tourism, Educational, Medical and Environmental Control Facilities is known.
The Second Judicial Circuit Court in Leon County, Florida ordered National Group Insurance Company, a subsidiary of Hato Rey’s embattled National Insurance Company, into receivership earlier this week, News is my Business learned.
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