Puerto Rico

Fitch Ratings has downgraded to A from A-plus the Puerto Rico Housing Finance Authority’s $384.5 million capital fund program bonds, Series A and B of 2008. The outlook is negative.

For the first three quarters of its fiscal year, Puerto Rico’s expenses are running below budget, according to the quarterly review released on Monday by the government’s Office of Management and Budget.

Moody's Investors Service has placed the ratings of the Puerto Rico Sales Tax Financing Corp.'s outstanding senior and subordinated sales tax revenue bonds on review for possible downgrade.

The Puerto Rico Electric Power Authority upsized its expected $475 million deal to $650 million on Tuesday, one day ahead of schedule.

The GDB for Puerto Rico, fiscal agent and financial advisor to the Commonwealth of Puerto Rico, ranked number seven among top issuers of municipal debt in 2011, taking advantage of market conditions to sell $3.6 billion of notes.

Moody’s Investors Service has revised its rating outlook on the University of Puerto Rico to negative and confirmed the Baa2 rating on its pledged revenue bonds and Baa3 rating on its Series 2000A bonds.

In the largest municipal bond sale thus far in 2012, Puerto Rico sold $2.3 billion of its public improvement refunding bonds, upsized from an expected $1.5 billion priced ahead of schedule.

The Puerto Rico Aqueduct and Sewer Authority is set to come to market with $1.25 billion of senior-lien revenue bonds, the largest scheduled sale in the long-term market so far this year.

Standard & Poor's has placed the Puerto Rico Highway and Transportation Authority's grant anticipation revenue bonds on credit watch with negative implications.

Moody's Investors Service assigned a negative outlook to the Puerto Rico Electric Power Authority's $8.23 billion of outstanding power revenue bonds while affirming its A3 rating.