News: Doral Financial Corp (DRL.N)
20 Oct 2014
Fri, Oct 10 2014
(Adds Puerto Rico's statement that it will appeal and percentage jump of Doral's stock price.)
Oct 10 - Puerto Rico will pursue "all legal options available" to appeal a court ruling that favored Doral Financial Corp in a $229 million tax dispute, Treasury Secretary Melba Acosta Febo said on Friday.
NEW YORK, Oct 10 - Shares of Doral Financial rose more than 30 percent in after-hours trading after a Puerto Rico judge ruled in favor of the bank in its $229 million tax dispute with the Puerto Rico Treasury Department.
SAN JUAN, Puerto Rico, Oct 10 - A Puerto Rico judge ruled in favor of Doral Financial Corp. late on Friday in its $229 million tax dispute with the Puerto Rico Treasury Department.
(Corrects paragraph three to say that the company sued the government in June and not May)
July 2 - Troubled lender Doral Financial Corp said an appeals court in Puerto Rico reversed a lower court's ruling that it lacked jurisdiction to hear a case stemming from its tax dispute with the island's government.
(The following statement was released by the rating agency) NEW YORK, May 05 (Fitch) Fitch Ratings has downgraded Doral Financial Corp.'s (DRL) Issuer Default Rating (IDR) to 'C' from 'CCC' and Viability Rating (VR) to 'c' from 'ccc', respectively. Long-term IDRs of 'C' and VRs of 'c' indicate that default appears imminent or inevitable. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERS - IDRs, VR and Senior Debt DRL's downgrade follows the comp
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