Luis Fortuno News
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Debt of Puerto Rico, already facing the worst performance since 2008, is poised to weaken further after the U.S. commonwealth had its credit rating cut to one level above speculative grade.
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Municipal investors looking for a getaway from the lowest yields in a generation are favoring Guam and the U.S. Virgin Islands over Puerto Rico as their destination of choice.
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Javier D. Ferrer has been named the next president of the Government Development Bank for Puerto Rico, the commonwealth’s financing arm, according to a spokesman for Governor-elect Alejandro Garcia Padilla.
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Investors have pushed Puerto Rico bonds to the cheapest in more than two years after Republican Governor Luis Fortuno, who cut workers and deficits, lost his re-election bid.
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A 10-digit lottery number on a crumpled Church’s Chicken receipt is Governor Luis Fortuno ’s solution for pulling Puerto Rico from its “lost decade” and may salvage his popularity.
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Republicans won the North Carolina governor’s office from Democrats to take control of at least 30 U.S. statehouses, the most in more than a decade.
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Puerto Rico Governor Luis Fortuno said he wants to cut taxes an average $1.2 billion in each of the next six years in a bid to spur economic growth.
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Debt of Puerto Rico, with a credit rating lower than any U.S. state, is in its deepest slide in 20 months, less than four weeks before elections that may unseat a governor who championed cost cuts and trimmed budget deficits.
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Republican National Committee Chairman Reince Priebus said in an interview on Bloomberg Television’s “Political Capital With Al Hunt” airing this weekend that he expects presumptive presidential nominee Mitt Romney will get a “real” and a “visible” bump in the polls at the party’s national convention next week in Tampa.
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Governor Luis Fortuno of Puerto Rico, which had its first credit-rating upgrade from Standard & Poor’s this month, said the U.S. territory’s $1 billion budget gap will be closed in two fiscal years.
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