Despite robust traffic and revenue growth, the stable outlook revision primarily stems from uncertainty around the project's capital structure. #NewsismyBusiness
Evertec Inc. announced that S&P Global Ratings has upgraded its issuer credit rating to ‘BB-‘/Stable Outlook from ‘B+’. As basis for its upgrade, S&P noted Evertec’s “conservative balance sheet and solid credit metrics while expanding revenue amid several external impacts including the COVID-19 pandemic.” S&P also cited its expectation that Evertec will generate consistent financial […]
S&P Global Ratings is withdrawing its 'CC' long-term and underlying ratings, and negative outlook, on Puerto Rico Aqueduct and Sewer Authority’s series 2008A, 2008B, 2012A and 2012B revenue bonds due to a lack of sufficient information.
S&P Global Ratings on Thursday removed its CreditWatch negative placement on Autopistas Metropolitanas de Puerto Rico, LLC and affirmed its 'BBB-' rating on the company’s $435 million senior secured notes due 2035. The outlook is negative.
S&P Global Ratings lowered its ratings on the Puerto Rico Aqueduct & Sewer Authority's series 2008 and 2012 senior-lien revenue bonds two notches to 'CC' from 'CCC-'. The outlook is negative.
The Puerto Rico Electric Power Authority announced Thursday its intention to pay all principal and interest due on July 1, 2016 under its power revenue bonds in accordance with the terms of an agreement with creditors holding approximately 70 percent of the utility’s outstanding debt, company officials said.
The Puerto Rico government’s decision to enact a debt moratorium and declare a state of emergency at the Government Development Bank prompted ratings agency S&P to downgrade the agency and Moody’s to warn of looming creditor lawsuits.
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.
NEW YORK — A panel of experts comprising analysts, economists and financial advisors gathered in Manhattan on Friday to analyze Puerto Rico’s current fiscal conditions and offer suggestions for turning the ship around in 2015, many of which require tough decisions.
Standard & Poor's Ratings Services continued the downgrading streak by credit ratings agencies in recent weeks, by slashing the standing of the Puerto Rico Aqueduct & Sewer Authority and the Government Development Bank on Monday.
High-ranking Gov. García-Padilla administration officials came out once again in defense of recent decisions aiming to boost Puerto Rico’s credit and ensure long-term fiscal and economic sustainability — most of which have generated strong backlash from stateside ratings agencies.
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.
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