Summary: Puerto Rico Convention Center District Authority Puerto Rico Infrastructure Financing Authority; Appropriations; Miscellaneous Tax Mar 13
- Language: English
- Published: March 2013
- Region: Puerto Rico
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 issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >
- Puerto Rico