Publication reports Guam's surplus to investors
Guam was recentlyfeatured on the front page of the Bond Buyer- a daily newspaper of public finance.
July 10, 2014Updated: July 10, 2014
By KUAM News
By KUAM News by Sabrina Salas Matanane
Guam - Guam was recently featured on the front page of the Bond Buyer - a daily newspaper of public finance. Guam Economic Development Authority public finance manager Lester Carlson, Jr. says the report highlights Guam achieving its second consecutive budget surplus in Fiscal Year 2013.
"So anytime Guam is covered in a very prestigious publication such as the Bond Buyer it goes into a long way into being able to help tell our story and most particularly our successes in fiscal stability and expense management," he said.
Carlson says the article identifies Guam as "junk-rated" only because the island has a non-investment grade. Governor Eddie Calvo says the last time Guam had investment grade status was in the early nineties before it fell to junk bond status in 1999. "But we're going to go shoot for now an investment grade rating we do believe the facts are there we will make our presentations, showing where we're at, where we've been, showing what we're doing and where we intend to go," he said.
Governor Calvo and his fiscal policy team will be meeting with the credit rating agencies and bond holders in San Francisco early next month.
Guam - Guam was recently featured on the front page of the Bond Buyer - a daily newspaper of public finance. Guam Economic Development Authority public finance manager Lester Carlson, Jr. says the report highlights Guam achieving its second consecutive budget surplus in Fiscal Year 2013.
"So anytime Guam is covered in a very prestigious publication such as the Bond Buyer it goes into a long way into being able to help tell our story and most particularly our successes in fiscal stability and expense management," he said.
Carlson says the article identifies Guam as "junk-rated" only because the island has a non-investment grade. Governor Eddie Calvo says the last time Guam had investment grade status was in the early nineties before it fell to junk bond status in 1999. "But we're going to go shoot for now an investment grade rating we do believe the facts are there we will make our presentations, showing where we're at, where we've been, showing what we're doing and where we intend to go," he said.
Governor Calvo and his fiscal policy team will be meeting with the credit rating agencies and bond holders in San Francisco early next month.