Calvo considers 'B+' bond rating an achievement - KUAM.com-KUAM News: On Air. Online. On Demand.

Calvo considers 'B+' bond rating an achievement

Posted: Updated:

by Mindy Aguon

Guam - Governor Eddie Calvo says the Government of Guam's 'B+ with A Stable Outlook' rating from Standard & Poor's should be seen as a major accomplishment. The island's chief executive was part of discussions with the ratings authority and personally explained his administration's budget and deficit elimination plan that seeks to get the island out of its current economic situation.

He told KUAM News, "For us to keep the status quo, I think, was an accomplishment because recent events in other governments including the issues of the federal government, Standard & Poor's has been very, very nervous about the fiscal condition as well as the practices set forth."

The governor adds his fiscal team continues to look for innovative ways to use debt instruments at the lowest interest rates. Calvo believes the government can attain a higher credit rating status and says his administration will unveil how they intend to do that in the coming weeks.

Finance & Taxation Committee chairman Senator Ben Pangelinan added, "So I certainly view it as a positive thing; I view it as the continued efforts to try and work the financial systems within the Government of Guam to work towards reducing our deficit and try to stay within our means."

  • NEWS HEADLINESMore>>

  • Archdiocese says bankruptcy is necessary action

    Archdiocese says bankruptcy is necessary action

    Bankruptcy is the right path to justice and recovery. Archbishop Michael Byrnes writing to the community on Sunday in his message about the recent Chapter 11 reorganization - the bankruptcy filing to cover the claims for the more than 200 victims of clergMore >>
    Bankruptcy is the right path to justice and recovery. Archbishop Michael Byrnes writing to the community on Sunday in his message about the recent Chapter 11 reorganization - the bankruptcy filing to cover the claims for the more than 200 victims of clergMore >>
  • Federal shutdown passes a month

    Federal shutdown passes a month

    The federal government shutdown now one month strong. President Donald Trump outlining his plan over the weekend aimed to end it. Trump's proposal will extend deportation protections for some immigrants in exchange for $5.7 billion in border wall funding.More >>
    The federal government shutdown now one month strong. President Donald Trump outlining his plan over the weekend aimed to end it. Trump's proposal will extend deportation protections for some immigrants in exchange for $5.7 billion in border wall funding.More >>
  • Samantha Brennan tightening-up operations at Dept. of Corrections

    Samantha Brennan tightening-up operations at Dept. of Corrections

    We could see a new prison during this administration. The new prison director says she is ready to beef-up manpower and enhance security. The responsibility has been daunting for the previous leadership. A prison with issues of drugs, weapons, and electroMore >>
    We could see a new prison during this administration. The new prison director says she is ready to beef-up manpower and enhance security. The responsibility has been daunting for the previous leadership. A prison with issues of drugs, weapons, and electroMore >>
Powered by Frankly