LATINO VOICES
02/05/2014 08:46 am ET Updated Feb 05, 2014

Puerto Rico To Announce Balanced Budget Plan

ASSOCIATED PRESS

Puerto Rican Governor Alejandro García Padilla plans to present Puerto Rico’s balanced budget plan a year early in response to the Switzerland-based financial services company UBS AG’s credit downgrade forecast.

“Given the myriad obstacles facing Puerto Rico, we believe that at least one rating agency will [downgrade Puerto Rico’s general-obligation bonds] within the next 30 days,” analysts Thomas McLoughlin and Kristin Stephens wrote in a report released last week.

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