Comments on: What’s with Puerto Rico GDB bonds? http://blogs.reuters.com/muniland/2013/09/25/whats-with-puerto-rico-gdb-bonds/ Bridges, budgets, bonds Mon, 24 Nov 2014 00:29:08 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Cate_Long http://blogs.reuters.com/muniland/2013/09/25/whats-with-puerto-rico-gdb-bonds/comment-page-1/#comment-2419 Tue, 04 Mar 2014 18:37:16 +0000 http://blogs.reuters.com/muniland/?p=13069#comment-2419 Trrade data for the GOVERNMENT DEVELOPMENT BANK FOR PUERTO RICO SENIOR NOTES, 2012 SERIES A (TAXABLE) (PR)
PUERTO RICO COMWLTH GOVT DEV BK TAXABLE-SR NTS-SER A (PR)*

http://emma.msrb.org/SecurityView/Securi tyDetailsTrades.aspx?cusip=A58771782DC0E BBCE0F5F4D24510F9756

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By: Cate_Long http://blogs.reuters.com/muniland/2013/09/25/whats-with-puerto-rico-gdb-bonds/comment-page-1/#comment-2320 Tue, 08 Oct 2013 22:00:36 +0000 http://blogs.reuters.com/muniland/?p=13069#comment-2320 A Sales and Use Tax (SUT) regimen operates in Puerto Rico and has replaced, with few exceptions, the excise tax system that existed for many decades.

http://www.pf-cpa.com/excise_taxes.html

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By: BBrite http://blogs.reuters.com/muniland/2013/09/25/whats-with-puerto-rico-gdb-bonds/comment-page-1/#comment-2315 Sat, 05 Oct 2013 18:38:48 +0000 http://blogs.reuters.com/muniland/?p=13069#comment-2315 What is SUT in SUT cash flow?

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By: speak_softly http://blogs.reuters.com/muniland/2013/09/25/whats-with-puerto-rico-gdb-bonds/comment-page-1/#comment-2309 Thu, 26 Sep 2013 14:37:40 +0000 http://blogs.reuters.com/muniland/?p=13069#comment-2309 Citi has been aggressively trying to move this taxable PR paper for a few days. 5MM of the taxable GDBs in 2020 traded yesterday morning at +1261 (745177EN1). The COFINA announcement yesterday certainly isn’t helping matters, more SUT cash flow being statutorily pledged to creditors means less cash flow flexibility for the Commonwealth.

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By: Cate_Long http://blogs.reuters.com/muniland/2013/09/25/whats-with-puerto-rico-gdb-bonds/comment-page-1/#comment-2308 Thu, 26 Sep 2013 01:41:00 +0000 http://blogs.reuters.com/muniland/?p=13069#comment-2308 Moody’s Sept 20, 2013 report:

“The commonwealth reported that general fund revenues are currently slightly ahead of initial
projections for July and August, the first two months of the fiscal year, though down slightly from
fiscal 2013 collections reflecting the transition period for some new revenue sources to take effect.

However, the commonwealth had planned $820 million of deficit financing and debt service restructuring for fiscal 2014, and that amount could increase if projections fall short. While net liquidity at the GDB was over $3 billion at the end of fiscal 2012, that amount has narrowed significantly due to continuing loans to the Commonwealth and other authorities and the inability to refinance certain lines in the long-term market.

The GDB reports that it has access to approximately
$2.8 billion in public deposits of the commonwealth’s agencies, public corporations and municipalities at private banking institutions which are in the process of being moved to GDB. If the GDB is unable to strengthen its liquidity position and the Commonwealth faces extended difficulties accessing the long-term market, the Commonwealth’s overall liquidity position could become severely strained.”

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By: AllanBrito http://blogs.reuters.com/muniland/2013/09/25/whats-with-puerto-rico-gdb-bonds/comment-page-1/#comment-2307 Thu, 26 Sep 2013 01:10:45 +0000 http://blogs.reuters.com/muniland/?p=13069#comment-2307 Cate, Excellent blog! Would like to know what’s with PR? Simple, the Government is killing the economy. It is a matter of time. Currently, we have been imposed over 45 different new taxes. Every single person, business and/or institution in the land was taxes. They have no money, they are compelled to raise taxes and yet they approved a budget $800 million larger than the previous year. Go figure!

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