October 11, 2017 / 7:42 PM / a year ago

BRIEF-‍Moody's downgrades Puerto Rico GOs after Hurricane Maria, maintains negative​ outlook

Oct 11 (Reuters) - Moody’s:‍

* Moody’s downgrades Puerto Rico GOs, COFINA and other debt after Hurricane Maria; outlook negative​

* Says has downgraded the Commonwealth Of Puerto Rico’s general obligation bonds to Ca from Caa3‍​

* Says lower ratings aligned with Moody’s estimates of Puerto Rico’s reduced debt servicing capacity given extensive damage from Hurricane Maria‍​

* Says negative outlook consistent with ongoing economic pressures, which will weigh on Puerto Rico’s capacity to meet debt, other funding obligations

* Says the outlook for all affected securities of Puerto Rico​, which have combined par value of about $31 billion, remains negative‍ Source text for Eikon:

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