S&P downgrades Doral to ‘CC’ in wake of capital breach
May 8, 2014
Two days after Doral Financial Corp. disclosed its weakened capital position, Standard & Poor's Ratings Services said Wednesday it lowered its issuer credit rating to 'CC' from 'CCC-' and placed the rating on CreditWatch with negative implications.
chat_bubble0 Comment
visibility2749 Views
GDB spends $2.6M on stateside debt restructuring firms
April 8, 2014
The Government Development Bank for Puerto Rico spent $2.6 million to pay for the services of two stateside law firms, Cleary Gottlieb Steen & Hamilton LLP and Proskauer & Rose LLP, seeking advice on “financing plans and other related matters.”
chat_bubble0 Comment
visibility2425 Views
PIA reacts to Puerto Rico’s credit downgrade
February 10, 2014
The Pharmaceutical Industry Association of Puerto Rico (PIA) expressed “extreme concern” with the critical situation Puerto Rico is facing will be going through in the near future, magnified by the recent credit downgrade by Standard & Poor’s and Moody’s, which the trade group said will “require us to make essential changes in the way the […]
chat_bubble0 Comment
visibility5755 Views
Gov. García-Padilla unveils measures to address S&P cut
February 6, 2014
The governor also instructed agencies to accelerate infrastructure investment plans to revive the economy. In that vein, the government has identified $800 million in public and private investment in infrastructure projects that it will push aggressively.
chat_bubble0 Comment
visibility2876 Views
S&P slashes Puerto Rico rating to junk; gov’t reacts
February 5, 2014
More than a year after warning about the possibility, Standard & Poor's Ratings Services on Tuesday made good on its word and cut its rating of Puerto Rico’s general obligation debt to 'BB+' from 'BBB-,' pushing it to the highest junk level status.
chat_bubble2 Comments
visibility3816 Views
Private sector trade groups discuss S&P downgrade
February 5, 2014
As word of the decision taken by Standard and Poor’s to downgrade Puerto Rico’s credit rating to junk level, the island’s biggest trade groups spoke out. Following are their individual statements.
chat_bubble1 Comment
visibility3955 Views
Puerto Rico’s fiscal team meeting with ratings agencies
January 27, 2014
A contingent of the government’s fiscal team is in New York today for two days of meetings with credit ratings agencies Standard & Poors, Fitch and Moody’s, which are all keeping close tabs on Puerto Rico’s financial problems and the steps being taken to address the crunch.
chat_bubble1 Comment
visibility3919 Views
S&P: 1-in-3 chance of a Puerto Rico ratings cut by ’15
November 6, 2013
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.
chat_bubble0 Comment
visibility3226 Views
S&P affirms Puerto Rico’s ‘BBB-’ rating, negative outlook
October 25, 2013
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.
chat_bubble0 Comment
visibility2511 Views
S&P revises outlook on Puerto Rico COFINA bonds
October 1, 2013
Basing its assessment on Puerto Rico’s declining economy and population, Standard & Poor's Ratings Services revised Monday its outlook on Puerto Rico Sales Tax Financing Corp.'s (known as COFINA) first- and second-lien bonds to negative from stable.
chat_bubble0 Comment
visibility3484 Views
Heads of Puerto Rico’s GDB, Treasury back in NY
May 9, 2013
Government Development Bank President Javier Ferrer and Puerto Rico Treasury Secretary Melba Acosta- took off to New York Wednesday to meet with credit ratings agencies S&P, Fitch and Moody’s to continue informing on the administration’s efforts to stabilize the government's finances.
chat_bubble0 Comment
visibility2790 Views
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.”
chat_bubble0 Comment
visibility2148 Views
Fitch cuts Puerto Rico credit to near junk
March 20, 2013
Fitch Ratings downgraded Puerto Rico’s debt to 'BBB-' from 'BBB+, a notch above “junk,” following the decisions by its colleagues at Moody’s and Standard & Poor’s in recent weeks.
chat_bubble1 Comment
visibility4349 Views
Puerto Rico GDB, Treasury: S&P action is ‘wake-up call’
March 15, 2013
High-ranking government officials said Thursday that the decision by Standard & Poor’s a day earlier to slash Puerto Rico’s credit rating to near-junk status was “not a surprise” given the persisting grim economic scenario, but in its analysis the agency is giving the current administration “room to tackle the general fund deficit.”
chat_bubble0 Comment
visibility2875 Views
S&P cuts Puerto Rico’s GO bonds ‘BBB-‘ From ‘BBB’
March 13, 2013
Citing Puerto Rico’s ongoing budget gap, New York-based Standard & Poor's Ratings Services on Wednesday lowered the government’s general obligations rating to 'BBB-' from 'BBB' — one notch above junk. The outlook is negative.
chat_bubble1 Comment
visibility2392 Views
Loading stock data...
Brought to you by
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA