Casa acreditadora Moodys destroza propuesta del Gobierno PPD de Plan de Re-estructuración! Pronostica litigios y más degradaciones del crédito de Puerto Rico!

MOODY’S ISSUES STATEMENT ON PUERTO RICO FISCAL RESTRUCTURING PLAN

If you use this comment in any stories, please attribute it to Ted Hampton, Vice President at Moody’s Investors Service.

“While the Puerto Rico plan is comprehensive, Moody’s believes the commonwealth’s ability to implement many of the recommended policies will pose political challenges, and it is unlikely that holders of the many Puerto Rico bonds will agree to forgo or defer substantial sums of promised principal and interest. There is a high probability of protracted litigation, particularly on the part of investors holding general obligation or other securities with strong legal protections.

“To fully reap the plan’s fiscal benefits, the Puerto Rican government will need to ask creditors to make sacrifices. This is consistent with our current ratings of Caa3 and Ca and negative outlooks on all Puerto Rico’s securities. This proposal and impending bondholder negotiations may result in additional downgrades, to the extent the process decreases expected bondholder recovery rates.”

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