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Moody's confirms US Virgin Islands' Caa3 issuer rating; outlook stable

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September 19, 2019

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Moody's Investors Service has confirmed the US Virgin Islands' Caa3 issuer rating, as well as the ratings on the territory's four liens of matching fund revenue bonds issued through the Virgin Islands Public Finance Authority: Senior Lien Bonds, Caa2; Subordinate Lien Bonds, Caa3; Subordinated Indenture (Diageo) Bonds, Caa3, and Subordinated Indenture (Cruzan) Bonds, Caa3. This action concludes the review of the ratings that we initiated on June 12 for lack of sufficient financial information. This action affects approximately $1.06 billion in outstanding matching fund debt. The outlook on these ratings is stable.