Kroll Bond Rating Agency (KBRA) has released a public finance research report entitled “Puerto Rico: Is It Doing Enough To Regain Capital Market Access?”
The report notes that the fiscal plan certified by the oversight board established under PROMESA presents a troubling outlook for bondholders over its 10-year time frame. While the fiscal reform and debt restructuring envisioned by PROMESA is still at an early stage, responsible debtor behavior by the commonwealth through the unfolding process will be essential in determining whether efficient access to the capital markets can be regained.
Please click here to access the full report.