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.
“We’ve seen an increase in bankruptcy filings, which leads us to conclude that many consumers haven’t been able to cope with credit card debt that piled up from last year’s holiday season.
We expect that the number of bankruptcies in 2026 will either surpass or remain similar to this year’s figures because of the ongoing economic crisis.”
— Yesenia Otero, client services manager, Consumer

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