Standard & Poor’s Friday downgraded all of the Puerto Rico Highways and Transportation Authority’s debt, affecting more than $6.6 billion of outstanding bonds. The outlook is stable.

Standard & Poor’s dropped the authority’s highway revenue bonds to BBB-plus from A-minus, according to the Government Development Bank for Puerto Rico, the island’s fiscal agent. Those outstanding bonds total $1.7 billion as of Feb. 1, 2007, according to the agency’s last official statement for its Series 2007M and Series 2007N bonds.

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