Sunday, April 5, 2020

S&P Downgrades HTA Series 1998 Bonds to ‘D’

By on July 12, 2016

SAN JUAN – S&P Global Ratings has lowered its long-term rating and underlying rating on the Puerto Rico Highway and Transportation Authority’s subordinated transportation revenue bonds, series 1998, state infrastructure bank, to ‘D’ (default) from ‘CC’, following a default on scheduled debt service due July 1, 2016. These bonds were issued under a 1998 resolution, and had a debt service reserve held within the Puerto Rico State Infrastructure Bank Trust Fund.

NEW YORK, NY - AUGUST 10:   Standard and Poor's headquarters are seen in Manhattan on August 10, 2011 in New York City. Worldwide markets remain turbulent days after Standard and Poor's downgraded the debt rating of the United States.(Photo by Mario Tama/Getty Images)

Standard and Poor’s headquarters are seen in Manhattan on August 10, 2011 in New York City. (Photo by Mario Tama/Getty Images)

 

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