by Nick Delgado

Guam - The Calvo Administration is moving full steam with the Series "B" bond. Two weeks ago the Business Privilege Tax bonds received an "A-" rating from Fitch Ratings and an "A" from Standard & Poors - both with a Stable Outlook and the highest investment rating in GovGuam's history. GEDA administrator Karl Pangelinan and deputy administrator Christina Garcia are in San Francisco for a Municipal Credit Conference where Guam will present to over 40 investment firms, a number of which own Guam bonds.

Immediately after, they will have one-on-one meetings with some of the biggest holders of Guam bonds like Franklin Fund, Blackrock, American Century and Delaware Management. Pangelinan says Guam's ratings along with the triple tax exemption make this bond very attractive.

Pangelinan adds that it's a good time to be in the market and is confident that Guam will get a very good rate as they price the bond this week and expect to close the first week of June, which will result in thousands of tax refunds being distributed to island residents.