Puerto Rico's pension reform positive step -S&P

NEW YORK, April 5 Fri Apr 5, 2013 11:24am EDT

Related Topics

NEW YORK, April 5 (Reuters) - Puerto Rico's pension reform approved late on Thursday will help reduce pressure on the island's cash-strapped finances, but the impact on its credit ratings will be largely determined by future progress on the current deficit, Standard & Poor's Ratings Services said on Friday.

"We expect that the approved pension reform will significantly reduce the additional pay-as-you-go contribution from the commonwealth to the retirement system," the rating agency said in a statement.

FILED UNDER:
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article