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.
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.”
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 […]
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