Moody's Investors Service Inc. disclosed Thursday it has upgraded the M Rico Industrial Development Company's general purpose revenue bond rating to “Baa1” from “Baa2” and changed the outlook to stable. This decision came even though Pridco has some $210 million of outstanding debt.
Moody’s Investors Service has placed the ratings of $6.8 billion outstanding Puerto Rico Sales Tax Financing Corporation's senior sales tax revenue bonds' Aa2 rating and $9.2 billion in subordinate sales tax revenue bonds' A1 rating on review for possible downgrade, the agency announced Tuesday.
Moody's Investors Service zeroed-in on several members of Hato Rey's Golden mile Tuesday, placing on review for downgrade certain ratings of three Puerto Rican banks, including Banco Santander Puerto Rico, Banco Bilbao Vizcaya Argentaria Puerto Rico and Popular Inc.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
