Gov.-elect names more economic team members
December 12, 2012
Gov.-elect Alejandro García-Padilla revealed Tuesday the identities of several more members of its economic team, who will take office in January — several of which are already familiar faces in government.
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Op-Ed: GDB’s response to CNE’s ‘open letter’
October 18, 2012
The Government Development Bank for Puerto Rico is proud of its long tradition of professional management, transparent corporate governance and utmost respect toward the investor community and the people at large.
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Op-Ed: CNE’s open letter to Puerto Rico’s GDB
October 17, 2012
The lack of seriousness and responsibility reflected by the comments made by the president of the Government Development Bank of Puerto Rico are truly disturbing.
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GDB chief takes part in UBS speaker series
October 16, 2012
Government Development Bank of Puerto Rico President Juan Carlos Batlle recently addressed a group of UBS clients on the outlook for the island’s credit as part of the company’s “UBS Speaker Series” cycle that began earlier this year.
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GDB mulls restructuring Condado Duo building loan
October 15, 2012
The Puerto Rico government is reviewing a request by one of the island's main hotel operators to restructure the loan that helped pay for the renovation of two landmark hotels: La Concha Renaissance Resort & Casino, currently in operation, and the Condado Vanderbilt Hotel, which shut down 15 years ago and reopens on Tuesday in a phased manner.
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S&P affirms UPR bonds classification, positive outlook
October 3, 2012
Credit ratings agency Standard & Poor’s affirmed Tuesday the “BBB-” rating of the University of Puerto Rico bonds, Series P, Q and O, giving them a stable outlook.
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EDB included in private banking loan guarantee program
September 26, 2012
The Economic Development Bank was included Tuesday in the Puerto Rico Development Fund Guarantee Program through an agreement signed with the Government Development Bank, government officials announced.
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GDB sends scathing letter to Moody’s over ratings cut
July 20, 2012
The Gov. Luis Fortuño administration sent a scathing letter to Moody’s Investor Services late Thursday, expressing its “utter disappointment” with the agency’s decision to downgrade the Puerto Rico Sales and Use Tax Financing Corporation’s bond rating.
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GDB may file claim in LIBOR rate manipulation case
July 17, 2012
The Puerto Rico Government Development Bank is mulling over the possibility of filing a legal claim related to the London Interbank Offered Rate manipulation case, agency President Juan Carlos Batlle told Reuters Monday.
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GDB Economic Activity Index reveals 5th month of positive growth
July 5, 2012
The Government Development Bank’s Economic Activity Index for the month of April reached 128.2 during April 2012, an increase of 0.1 percent when compared to April 2011 and the fifth consecutive month of positive year-over-year growth since recession began in 2006, the agency said Wednesday.
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S&P downgrades GDB rating outlook to ‘negative’ from ‘stable’
June 25, 2012
Standard & Poor's Ratings Services revised Monday its ratings outlook on the Government Development Bank for Puerto Rico to negative from stable, while affirming its 'BBB/A-2' ratings for the agency.
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BofA Merrill Lynch ‘favorably impressed’ by P.R.’s financial strides
June 18, 2012
While recognizing that the Gov. Luis Fortuño administration’s financial strides “have been large and comprehensive,” Bank of America Merrill Lynch said in a recent report that Puerto Rico still has challenges ahead before achieving a full recovery.
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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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GDB lifts restriction on public data
April 18, 2012
In an apparent response to public pressure, the Government Development Bank on Wednesday eliminated the restriction on the information it shared with the public on its website.
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GDB: Economic activity index ‘gaining ground’ in ’12
April 11, 2012
The Government Development Bank unveiled the Economic Activity Index for the months of January and February, which reflected an increase of 0.5 percent and 0.7 percent, respectively in comparison to the same months in 2011.
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