Moody’s revises three subsidiaries of Spanish banks in Puerto Rico
The risk measurement agency Moody’s has placed under surveillance for possible downgrade subsidiaries of Santander, BBVA and Banco Popular in Puerto Rico, the deterioration of the economic situation.
In a note, Moody’s cautions that Puerto Rico has lived since 2006, a protracted recession, and although they have recently begun to be felt some signs of stabilization, they do not have claims to be profound because of the poor state of national finances.
In addition, the report notes the heavy debt and equity withdrawal experienced in recent times and the endemic weakness of its economy.
Category: Mutual Funds
