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.
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.
Standard & Poor's Ratings Services has revised its outlook for the Puerto Rico government’s general obligation (GO) and appropriation debt ratings to negative from stable.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
