Guam bonds, following suit with other investment instruments, at the state and local level across the US, have been downgraded due to a change in criteria.

Ratings authority Standard & Poor's had previously indicated they would change criteria for tax revenue debt, affecting more than 800 different bond credits in the market.

GEDA's Jay Rojas shared his disappointment with the change, saying his agency questions its reliability.

Fortunately, the new rating does not affect Guam's outstanding Hotel Occupancy Tax, Section 30 or Business Privilege Tax bonds, as interest rates for those bonds were locked in at sale-time.

GEDA says it asks for the community's patience as they strive for financial stability for GovGuam.