March 20, 2013 / 8:03 PM / 5 years ago

Fitch cuts Puerto Rico GO debt to BBB minus

March 20 (Reuters) - Fitch Ratings on Wednesday cut its general obligation credit rating for Puerto Rico to BBB-minus from BBB-plus, saying the U.S. commmonwealth was facing a large budget imbalance caused by a weak economy and revenues.

Fitch said in a statement that it had a negative ratings outlook for Puerto Rico, that the island’s government will likely fall short of structural budget balance in fiscal 2014, and that its underfunded pension system was nearly depleted.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below