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Summary: Puerto Rico; General Obligation, State GO Mar 98 Product Image

Summary: Puerto Rico; General Obligation, State GO Mar 98

  • Published: March 1998
  • Region: Puerto Rico
  • Standard & Poors

Abstract
The 'A' rating on the Commonwealth of Puerto Rico's GO bonds reflects: * Sustained moderate economic growth; * Adequate financial performance that has improved over the past three years; * Low wealth indicators; and * High, but manageable, debt levels. These factors are offset by strong capital needs and a large unfunded pension liability. Economic indicators show positive signs. Led by construction; trade; and services sectors, which comprise over 50% of the employment base, the economy continues to broaden and create job opportunities. The GNP is growing annually in the 2.5%-3.0% range. Unemployment figures are at near record lows, but still high, at about 12%-13%; and total employment growth has averaged nearly 4% over the past two years. Section 936...

Companies mentioned in this report are:
- Puerto Rico

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an READ MORE >

- Puerto Rico

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