Puerto Rico’s general obligation credit ratings could be spared from another downgrade from Standard & Poor’s at least through March 2015 if the government makes good on its commitment to rein in its structural deficit over the next two years, follows through on its plans to reduce major liabilities, such as public pensions, and upholds its revenue stream.
Puerto Rico is facing better odds of defaulting on its debt, Moody’s Analytics said Monday, adding that fiscal problems, high unemployment rate and a shrinking population are fueling the problem.
Ratings on short- and medium-term notes issued by Puerto Rico municipal bond funds remain stable despite severe price volatility in the island's municipal market, Fitch Ratings service said Thursday.
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