The Securities Law Firms Klayman & Toskes, P.A. and Carlo Law Offices Comment on Recent Standard & Poor’s Credit Downgrade Decision To Cut Puerto Rico Public Finance Corp. Bond Credit Ratings

SAN JUAN, Puerto Rico (Globe Newswire) – July 21, 2015 – The Securities Arbitration Law Firm of Klayman & Toskes, P.A. (“K&T”), www.sueubspuertorico.com, and Carlo Law Offices comment on Standard & Poor’s (“S&P”) decision to downgrade the credit rating on debt issued by Puerto Rico Public Finance Corp’s (“PRPFC”) in 2011 and 2012 from “CCC-” to “CC”. The S&P rating agency downgrade came after the PRPFC failed to transfer money to the bond trustee for the $58 million bond payment due Aug 1st. As a matter of practice, funds are transferred 15 days in advance of payment date. With this…