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Puerto Rico officials confident of liquidity -statement
February 4, 2014 / 9:31 PM / 4 years ago

Puerto Rico officials confident of liquidity -statement

Feb 4 (Reuters) - 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 statement said.

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