Feb 4 Puerto Rico's Treasury secretary and the
head of the commonwealth's Government Development Bank on
Tuesday said they were confident of their ability to maintain
the island's liquidity even after ratings agency Standard &
Poor's cut its credit rating to junk bond status.
"We are confident that we have the liquidity on hand to
satisfy all liquidity needs until the end of the fiscal year,"
Treasury Secretary Melba Acosta Febo and GDB Chairman David
Chafey said in a joint statement following the S&P downgrade.
"In addition, the GDB and the Commonwealth of Puerto Rico
have been in discussions with parties that have expressed an
interest in arranging additional liquidity for the Commonwealth,
and the Commonwealth continues to explore such options,
including obtaining additional funding, as necessary," the