...NEW YORK (Standard & Poor's) April 24, 2015--Standard & Poor's Ratings Services said today that its ratings on four Puerto Rico-based regional banks will remain on CreditWatch with negative implications, following the downgrade of Puerto Rico's general obligation (GO) debt to '###+' from 'B' and the lowering of our long-term issuer credit rating on the Government Development Bank of Puerto Rico (GDB) to '###' from 'B-' (see "Government Development Bank for Puerto Rico Long-Term Rating Lowered Two Notches To '###' From 'B-'; Outlook Negative," published April 24, 2015, on RatingsDirect). We placed the four regional banks on CreditWatch with negative implications on Feb. 13, 2015 (see "Ratings On Four Puerto Rico-Based Banks Placed On CreditWatch Negative Following The Downgrade Of Puerto Rico's GO Debt," published Feb. 13, 2015). In our view, the Commonwealth's market access prospects have further weakened, and its ability to meet its financial commitments increasingly depends upon favorable...
