More than a year after warning about the possibility, Standard & Poor's Ratings Services on Tuesday made good on its word and cut its rating of Puerto Rico’s general obligation debt to 'BB+' from 'BBB-,' pushing it to the highest junk level status.
Following what can only be called an attempt to avoid the unavoidable, the Government Development Bank finally posted the Economic Activity Index — with weeks of delay — for the months of September and October, revealing results that keep Puerto Rico in negative territory for the 11th consecutive month.
The Government Development Bank for Puerto Rico announced Wednesday that, as part of its efforts to increase transparency and improve investor relations, it has made additional disclosure materials available on its website.
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