Morgan Stanley Upgrades Popular, Inc. (BPOP) to Equalweight
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Fitch Downgrades Puerto Rico's GO and Related Ratings to 'CC'; Maintains Rating Watch Negative
June 29, 2015 3:28 PM EDTFitch Ratings-New York-29 June 2015: Fitch Ratings has downgraded the Commonwealth of Puerto Rico's general obligation (GO) and related debt ratings to 'CC' from 'B'. The ratings remain on Rating Watch Negative. The complete list of affected credits is included at the end of this release.
The downgrade of the ratings to 'CC', which indicates Fitch's belief that default of some kind appears probable, is based on public comments by the governor supporting the broad debt restructuring strategy included in an external report released this morning by GDB.
Fitch no longer believes that the commonwealth views GO debt as worthy of the higher level of protection that to date has been assumed due to the very strong legal pledge and repeated public statements to this effect. As it is difficult at this point to predict the course that the commonwealth will take from here in... More
Guggenheim Downgrades Popular, Inc. (BPOP) to Neutral
June 29, 2015 7:23 AM EDTGuggenheim downgraded Popular, Inc. (NASDAQ: BPOP) from Buy to Neutral.
For an analyst ratings summary and ratings history on Popular, Inc. click here. For more ratings news on Popular, Inc. click here.
Shares of Popular, Inc. closed at $32.94 yesterday.
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