Puerto Rico officials confirmed Tuesday on a conference call what many in the municipal bond market had been anticipating; it will return to the market with the intention to sell close to $3 billion of debt in March. The market will be closely watching this bond offering, as the proceeds […]
Monthly Archives: February 2014
After seven years of recession, a ballooning budget deficit and billions in unfunded pension liabilities, Puerto Rico’s bonds last week were downgraded by two agencies, Standard & Poor’s and Moody’s, to “junk” status. The third rating agency, Fitch, is likely to follow the other two agencies and downgrade Puerto Rico […]
UBS Puerto Rico bond investors better look out; the giant investment bank’s research analysts just dropped the first shoe on your heads. Last week, UBS issued a report stating that at least one of the Big 3 rating agencies, Moody’s, Fitch or Standard & Poor’s, will cut a swath of […]