Muniland: Moody’s Puts Puerto Rico Rating On Review

Moody’s Corporation (NYSE:MCO) Investors Service has put Puerto Rico’s general obligation rating, currently at Baaa3, on a review that may lead to a downgrade.  The ratings agency cited “weakening liquidity, increasing reliance on external short-term debt, and constrained market access, within the context of a weakened and now sluggish economy.” On course for junk? The commonwealth has already been facing severe financial difficulties because of budget deficits and a crushing debt burden. Also see: Puerto Rico Can Solve Its Problems With A Proven Method: Citi Puerto Rico’s rating of Baaa3 is the lowest investment grade rating, and a downgrade by Moody’s Corporation…