BOSTON -- Standard & Poor's Corp. said Friday it placed the Puerto Rico Port Authority on CreditWatch with negative implications.

The authority, which maintains an A-minus rating from Standard & Poor's, was placed on CreditWatch because of continued noncompliance with its rate covenant, accounting changes, and the effects of a new Puerto Rico Supreme Court ruling, according to Standard & Poor's officials.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.