Fitch Ratings announced Thursday it has downgraded the Commonwealth of Puerto Rico's general obligation and related debt ratings to 'B' from 'BB-' and placed them on Rating Watch Negative.
For the second time in less than a week, Puerto Rico’s credit rating has gotten slashed, this time by Moody's Investors Service, which downgraded the Commonwealth’s general obligation bonds and guaranteed debt to Caa1 from B2, its Sales Tax Financing Corporation (COFINA) senior and subordinate bonds, respectively, to B3 and Caa1 from Ba3 and B1, and the notes of the Government Development Bank, to Caa1 from B3.
Standard & Poor's Ratings Services pushed Puerto Rico’s general obligation rating further into junk Thursday when it lowered it 'B' from 'BB,’ with a negative outlook.
Standard & Poor's Ratings Services on Wednesday announced it has lowered its rating on Puerto Rico Electric Power Authority's power revenue bonds four notches to “B-“ from “BB,” further deepening the agency’s credit woes.
The U.S. mainland’s three credit ratings agencies showered Puerto Rico with downgrades and warnings of further revisions Friday, upholding a trend that began a day earlier in response to the filing of a bill paving the way for the restructuring of fiscally troubled public agencies.
A.M. Best announced Tuesday it has upgraded Hato-Rey based Universal Life Insurance Company’s financial strength rating to A- (Excellent) from B++ (Good) and the issuer credit rating to “a-” from “bbb+.”
Moody’s Investors Service is set to conclude its review of Puerto Rico’s credit and fiscal situation in coming weeks, when it will focus on key issues of liquidity, budget performance and economic outlook, the New York-based agency said in a report released Thursday.
Standard & Poor's Ratings Services this week affirmed its 'BBB-' rating and negative outlook on Puerto Rico’s general obligation (GO) and appropriation debt, based on — among other things — the commonwealth's weak economic trends that began in fiscal 2007, including population declines and economic contraction.
A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of B+ (Good) and issuer credit rating of “bbb-” of Puerto Rico’s Multinational Life Insurance Company in Hato Rey.
A.M. Best Co. has upgraded Guaynabo-based Trans-Oceanic Life Insurance Company’s issuer credit rating (ICR) to “bbb+” from “bbb” and affirmed the financial strength rating of B++. The outlook for the FSR is stable, while the outlook for the ICR has been revised to stable from positive.
Insurance credit ratings agency A.M. Best Co. announced Thursday it has revised Universal Life Insurance Company’s outlook to “positive” from “stable” and affirmed its financial strength rating of B++ (Good) and “bbb+” issuer credit rating.
Eight months after entering the Puerto Rico market, Multinational Insurance Company has received a favorable review from prestigious credit ratings agency A.M. Best Co.
Credit rating agency Fitch Ratings on Thursday reviewed and affirmed the ratings assigned to $691.8 million in notes and stock issued by 12 Puerto Rico Investors Tax-Free closed-end funds advised by UBS Asset Managers of Puerto Rico.
A.M. Best, the world's oldest and most authoritative insurance rating and information source, recently affirmed the financial strength rating of “A” (Excellent) of the MAPFRE PRAICO Group and its affiliates, confirming their financial strength, company officials announced Wednesday.
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