Feb 12 (Reuters) - Standard & Poor’s lowered its general obligation (GO) rating on Puerto Rico to ‘B’ from ‘BB’, citing increasing risks related to its ability to fund its debt commitments.
"We believe Puerto Rico has experienced and will continue to face a major reduction in its ability to obtain external liquidity at a reasonable cost...," S&P said on Thursday. (bit.ly/1F3uyHc)
The ratings agency assigned a negative outlook for all Puerto Rico’s ratings. (Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Joyjeet Das)