In accordance with its practice of regularly reviewing ratings on Rating Watch, credit ratings agency Fitch Ratings announced Wednesday it will maintain its “Rating Watch Negative” status on $3.4 billion of outstanding Puerto Rico Aqueduct and Sewer Authority senior lien revenue bonds.
Fitch Ratings announced Thursday it completed a peer review of three rated Puerto Rican banks, and affirmed the long-term “Issuer Default Ratings” for Doral Financial Corp. at 'C' and Popular Inc. at 'BB-' and First BanCorp at 'B-.'
Credit ratings agency Fitch said Tuesday it believes that a restructuring of Puerto Rico Electric Power Authority's debt obligations remains likely, despite the forbearance agreements between PREPA and certain of its creditors (including bondholders) signed on Aug. 14.
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