We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Barclays Plc | LSE:BARC | London | Ordinary Share | GB0031348658 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.35 | 0.67% | 202.35 | 202.10 | 202.20 | 203.40 | 199.58 | 202.50 | 47,820,183 | 16:35:08 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Commercial Banks, Nec | 25.38B | 5.26B | 0.3470 | 5.83 | 30.63B |
By Maria Armental
Fitch Ratings on Wednesday cut the rating of Puerto Rico's general-obligation bonds one notch, deeper into junk territory, citing the country's outstanding debt and unfunded pensions.
The downgrade follows earlier rating cuts from Moody's Investors Service and Standard & Poor's tied to the commonwealth's new law to overhaul other public debt. The law, signed by Gov. Alejandro Garcia Padilla, allows some agencies, such as the island's power, water and transportation authorities, to restructure their debt.
Those agencies have a combined $19.4 billion outstanding, according to estimates from Barclays PLC.
The law doesn't apply to Puerto Rico's general-obligation or sales-tax debt.
While intended to restore solvency over the long-term, Fitch said Wednesday, the restructuring as outlined in the law "would trigger suspension of debt payments and preclude the timely payment of principal and interest" while proceedings are pending.
Fitch lowered the commonwealth's general-obligation bonds and general obligation-guaranteed debt to double-B-minus, three notches below investment grade, citing mixed economic signs including accelerated year-over-year drops in the labor force that have accelerated in recent months and persistent year-over-year declines in the Government Development Bank's monthly economic activity index.
The rating agency also cut its rating on the commonwealth's sales tax entity, known by its Spanish acronym Cofina, pension funding bonds and Public Building Authority government facilities revenue bonds guaranteed by the commonwealth to double-B-minus, and cut about $3.4 billion in debt from the Puerto Rico Aqueduct & Sewer Authority to B-plus.
Write to Maria Armental at maria.armental@wsj.com
1 Year Barclays Chart |
1 Month Barclays Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions