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Fitch rates Puerto Rico pension bonds BBB-
Fitch Ratings said it assigned a BBB- rating to the series C senior pension bonds to be issued by the Employees Retirement System of the Commonwealth of Puerto Rico.
Fitch also affirmed the BBB- rating on outstanding senior pension funding bonds. The outlook is stable.
This is the system's third issuance of pension funding bonds; $2.6 billion has been offered to date, and the system expects to issue a total of $7 billion to reduce its unfunded liability.
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