January 24, 2014 — Triet M. Nguyen
S&P Puts Puerto Rico G.O. & GDB On Negative Creditwatch
S&P has placed its general obligation (GO) and appropriation debt ratings on the Commonwealth of Puerto Rico on CreditWatch with negative implications.
Also on CreditWatch with negative implications: Puerto Rico GDB, Puerto Rico’s Employee Retirement System, the Puerto Rico Infrastructure Financing Authority, the Puerto Rico Convention Center District Authority, and the Puerto Rico Highways and Transportation Authority .
S&P believes that the “GDB’s ability to provide liquidity to the commonwealth has become constrained”.