Puerto Rico

Mirroring increasing investor concern about Puerto Rico, Moody's downgraded the commonwealth's general obligation debt to Baa 3 from Baa1 on Thursday afternoon.

Juan Carlos Batlle, the president of Puerto Rico's bank and financial advisor, will end his nearly two-year tenure at the end of the year. A new president has not yet been announced.

The election of Puerto Rico's new governor is causing uncertainty among investors and a possible downgrade from Standard & Poor's.

Puerto Ricans on Tuesday voted for a new governor and a new political status.

Puerto Rico voters will advise on Tuesday if they want to become a state or remain a commonwealth. A statehood vote could affect the island's triple tax-exempt status.

Credit spreads on Puerto Rico bonds continue to widen, improving the risk-reward proposition, according to a report released on Thursday by Alan Schankel at Janney Capital Markets.

With successful public-private partnerships under its belt, and more underway, Puerto Rico is leading the way in a market that has been slow to catch on in the United States.

Slide show of Puerto Rico Public Private Partnerships P3s

Standard & Poor's revised its outlook on about $1.1 billion of outstanding bonds of the Puerto Rico Municipal Finance Agency to negative from stable.

A public-private partnership to develop a $400 million light rail line in San Juan, P.R. might utilize parking revenue, fares, and other sources to finance the project, according to city officials.