Virgin Islands on Moody's Review

Moody's Investors Service placed on review the Baa2 rating on the U.S. Virgin Island's gross receipts tax bonds, issued through the Virgin Islands Public Finance Authority.

The action affects approximately $530 million in outstanding debt.

"The placement of the rating on review is prompted by the lack of sufficient current financial and operating information," analysts said in a report.

If the information is not obtained within the next 90 days, Moody's will take appropriate rating action, which could mean withdrawal or a downgrade.

The authority was created in 1988 to promote and sustain economic and social development in the Virgin Islands. 

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