Puerto Rico gets BBB- rating from S&P for 2011 refunding bonds.

(ADPnews) - Feb 9, 2011 - S&P on Tuesday rated at BBB- with a "positive" outlook Puerto Rico's series 2011 general obligation (GO) public improvement refunding bonds.

The service also maintained at BBB- with a "positive" outlook the commonwealth's GO debt outstanding.

The rating is constrained by Puerto Rico's high debt levels and persistent budget deficits, with ongoing fiscal stabilisation efforts likely to bear fruit in 2013 at the earliest.

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