AAFAF - Autoridad de Asesoría Financiera y Agencia Fiscal de Puerto Rico

Puerto Rico Public Buildings Authority (PBA)

Puerto Rico Public Buildings Authority (“PBA”) is a public corporation of the Government created pursuant to Act No. 56 of June 19, 1958, as amended. PBA is responsible for the administration and maintenance of office buildings, courts, warehouses, schools, health care facilities, welfare facilities, shops and related facilities leased to the Commonwealth and its departments, agencies and municipalities.

Learn more about PBA here.

 

CREDIT RATING DASHBOARD

 

Following the implementation of PBA’s debt restructuring on March 15, 2022, PBA has no outstanding bonds.

Following the implementation of ERS’s debt restructuring on March 15, 2022, ERS has no outstanding bonds. Click HERE for further information on the debt restructuring refer to the Plan of Adjustment, Findings of Fact, and Confirmation Order.

On September 27, 2019, the Financial Oversight and Management Board for Puerto Rico (“FOMB”), with the consent of then-Governor Wanda Vázquez Garced, commenced a Title III case for the Puerto Rico Public Buildings Authority (“PBA”) by filing a petition for relief pursuant to Section 304(a) of PROMESA, 48 U.S.C. § 2164(a), in the United States District Court for the District of Puerto Rico. As such, PBA is currently a debtor in a proceeding under the Title III of PROMESA, 48 U.S.C. § 2161, et seq. Pursuant to Section 315(b) of PROMESA, 48 U.S.C. § 2175(b), the FOMB serves as PBA’s representative in its Title III.

On January 18, 2022, the Title III Court entered its Findings of Fact and Conclusions of Law and the order (the “Confirmation Order”) confirming the Eighth Amended Plan of Adjustment (the “Plan”) for (i) the Commonwealth, (ii) the Employees Retirement System of the Government of the Commonwealth of Puerto Rico; and (iii) the Puerto Rico Public Buildings Authority. The Plan became effective on March 15, 2022 (the “Effective Date”). Under the Plan, PBA bonds and related obligations and guarantees were discharged and are no longer outstanding.  For a detailed overview of the Plan of Adjustment, click here.

PBA’s Title III proceeding is being jointly administered with the Commonwealth’s Title III proceeding for procedural purposes only in the United States District Court for the District of Puerto Rico under Case No. 17-BK-03283-LTS.  The Title III case docket can be accessed for free by clicking here.