Puerto Rico Sen. Álvarez-Conde’s measure would prioritize closed schools. #NewsismyBusiness
The Puerto Rico Public Buildings Authority’s high level of indebtedness — estimated at $4.2 billion — and whether it has repayment capacity, could make it an “easy target” for credit ratings agencies, local analyst firm REOF Capital concluded in a recently released report.
Gov. Alejandro García-Padilla on Thursday submitted to the Public Buildings Authority board the appointment of engineer Ángel L. González-Carrasquillo as the new executive director of that government agency.
The Government Development Bank confirmed Thursday that the Puerto Rico Public Buildings Authority completed the refinancing of $588.9 million in bonds through a placement in the exempt market.
The Public Buildings Authority sold more than $1 billion in bonds in the Puerto Rico and U.S. markets within the last week, which it will use to build and upgrade some 100 public schools and repay a credit line it has with the Government Development Bank, GDB President Juan Carlos Batlle said Wednesday.
For the second time this year, the Public Buildings Authority has awarded a contract to New York-based utiliVisor to monitoring energy consumption levels at government centers in Aguadilla and Caguas, as well as the Police Department’s Hato Rey headquarters.
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