Moody’s: Puerto Rico’s pension reform, IVU changes ‘credit positive’
May 16, 2013
Credit ratings agency Moody’s Investor Service issued a report Wednesday saying that Commonwealth employee retirement system (ERS, for short) reform and the projected changes to the sales and use tax system are both positives for the island’s credit, despite the ongoing fiscal indebtedness.
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Fitch deems Puerto Rico’s pension reform ‘positive step’
April 9, 2013
Fitch Ratings officials said Monday the pension reforms that the Puerto Rican government has enacted are “positive and an important step toward achieving credit stability.”
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García-Padilla signs sweeping pension reform
April 5, 2013
Amid outcry from many public workers who will see their pension benefits dwindle once they retire from their government jobs, Puerto Rican lawmakers approved and Gov. Alejandro García-Padilla signed a sweeping reform aimed at “rescuing” Commonwealth’s Employees Retirement System.
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