Puerto Rico yesterday entered the single-A category as Moody’s Investors Service released its recalibrated A3 rating with a stable outlook for the commonwealth’s general obligation debt. The prior rating was Baa3 with a stable outlook.

Moody’s is currently looking at all of the municipal credits that it rates to evaluate them as it would all debt. Puerto Rico’s global scale rating of A3 is three notches above its municipal-scale rating of Baa3.

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