Shutdown Unresolved, Imperiling Credit Rating
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Puerto Rico faced a possible downgrade of its credit rating as political leaders remained deadlocked over how to resolve the island’s fiscal crisis seven days into a partial government shutdown.
Gov. Anibal Acevedo Vila and the opposition-dominated Legislature continued to hash over possible solutions for the crisis.
The two sides have floated competing proposals to close a $740-million budget gap that led to the May 1 closure of 43 government agencies and nearly 1,600 schools, sending home more than 95,000 government workers and 500,000 students.
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