Gov. Luis Fortuño administration officials took Moody’s Investors Service’s decision to cut the Puerto Rico Electric Power Authority’s credit rating down a notch in stride Wednesday, saying it was “expected” and would not have an impact on the upcoming $475 million bond emission.
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.
Moody's Investors Service downgraded the rating of more than $1 billion of the Puerto Rico Public Building Authority’s general obligation bonds to Baa1 from A3, providing a negative outlook for Series R and Series S. The bonds are expected to go to market Tuesday.
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