Guam bond rating affirmed
<span style="font-family: Arial, sans-serif; font-size: 12px; line-height: 13.8000001907349px;"> Specifically the rating is for several of the Government's Business Privilege Tax or BPT bonds totaling over 371 million dollars secured between 2011 and 2013. The rating outlook is stable.</span>
January 20, 2015Updated: January 20, 2015
By KUAM News
By KUAM News by Sabrina Salas Matanane
Guam - Guam's "A-" rating was affirmed by Fitch Ratings. Specifically the rating is for several of the Government's Business Privilege Tax or BPT bonds totaling over 371 million dollars secured between 2011 and 2013. The rating outlook is stable. According to the company the rating reflects a structure and revenue pledge that insulates the bonds from Guam's somewhat weak general fund operations. Fitch Ratings noted that since the current administration took office in 2011, it has implemented a fiscal stabilization plan based on spending controls, improved revenue estimation and collection, and bond issuance to both pay overdue and accumulated tax refunds as well as to provide budgetary relief.
Guam - Guam's "A-" rating was affirmed by Fitch Ratings. Specifically the rating is for several of the Government's Business Privilege Tax or BPT bonds totaling over 371 million dollars secured between 2011 and 2013. The rating outlook is stable. According to the company the rating reflects a structure and revenue pledge that insulates the bonds from Guam's somewhat weak general fund operations. Fitch Ratings noted that since the current administration took office in 2011, it has implemented a fiscal stabilization plan based on spending controls, improved revenue estimation and collection, and bond issuance to both pay overdue and accumulated tax refunds as well as to provide budgetary relief.