S&P Officially assigns Bond Rating
Guam - Ratings company Standard & Poors officially posted on their website it's bond rating for the Government of Guam's $244 million Business Privilege Tax Bonds. GovGuam received an "A" rating with a "Stable Outlook". The rating is higher than Fitch Ratings "A-" rating assigned this morning. Governor Eddie Calvo reacted to the ratings saying it was "good news" as the government strives to pay out past due tax refunds and other outstanding obligations such as COLA.
According to S&P an "A" rating is an investment grade rating. It means the government of Guam has a strong capacity to meet financial commitments but somewhat susceptible to adverse economic conditions and changes in circumstances. A "stable outlook" means that a rating is not likely to change.