Moody's Corporation (NYSE:MCO) Investors Service has put Puerto Rico’s general obligation rating, currently at Baaa3, on a review that may lead to a downgrade. The ratings agency cited "weakening liquidity, increasing reliance on external short-term debt, and constrained market access, within the context of a weakened and now sluggish economy."
On course for junk?
The commonwealth has already been facing severe financial difficulties because of budget deficits and a crushing debt burden.
Also see: Puerto Rico Can Solve Its Problems With A Proven Method: Citi
Puerto Rico’s rating of Baaa3 is the lowest investment grade rating, and a downgrade by Moody's Corporation...
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