Puerto Rico officials aim to boost the commonwealth’s general obligation rating to BBB-plus by 2013 and enter the single-A category by 2017, according to the government’s Strategic Model for a New Economy, a plan to cultivate the island’s economy and create job growth.

The formal release of the strategic model comes as officials plan to issue roughly $1 billion of sales tax bonds in the U.S. market and another $750 million of qualified school construction bonds offered through the federal American Recovery and Reinvestment Act.

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