Puerto Rico’s GO Bonds May Be Reduced to Junk by Fitch
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Puerto Rico’s general-obligation debt, graded one step above junk level, may be cut by Fitch Ratings if the island commonwealth’s access to credit markets continues to be limited.
Fitch will decide by the end of June whether to lower its score on Puerto Rico bonds to noninvestment grade, Karen Krop, a New York-based analyst, said in a report yesterday.