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Issuer Type: State/Province
On behalf of the Virgin Islands Government, I would like welcome you to our new investor relations website. We appreciate your interest and investment in bonds issued by the U.S. Virgin Islands Public Financing Authority, as it allows us to make critical investments in public infrastructure throughout the Virgin Islands.
The website will provide up to date financial information, documents and reports that will provide insight into the credit fundamentals behind the US Virgin Islands economy.
Hurricanes Irma and Maria have certainly had a dramatic impact on the Territory and will result in significant challenges as we recover and rebuild. Nevertheless, we want assure the investor community that we will rebuild our infrastructure and address our financial issues. We will not let this stand in our way. We are committed to being as transparent as possible with the investor community and the public at large.
Please do not hesitate to contact our office with suggestions for how we can be doing better.
Thank you again for your interest in our bond program.
Albert Bryan Jr.
The Trump Administration<span style="color: rgb(34, 34, 34);">, through the U.S. Department of the Interior’s Office of Insular Affairs, announced today the release of $338,059,936 to Guam and the U.S. Virgin Islands (USVI). The payment includes $65,109,936 to Guam for federal income tax advance payments under Section 30 of the Organic Act of Guam for fiscal year 2021 and $272,950,000 to the USVI in rum tax cover-over payments for estimated FY 2021 rum tax </span>
c<span style="color: rgb(34, 34, 34);">ollections in the territory.</span>
Governor Albert Bryan Jr. delivered his Fiscal Year 2021 Executive Budget proposal to the 33rd Legislature on Friday, ahead of the May 31 deadline required by law.
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.