Business Services Industry
PUERTO RICO: MOODY'S UPGRADES DORAL.
IPR Strategic Business Information Database, December, 2007
Moody's Investors Service upgraded the senior debt rating of Doral Financial Corporation (Doral) to B1 from B2. Following the upgrade, the rating outlook is stable. The rating action reflects Moody's view that Doral's substantial capital base and ample liquidity allows the company to begin executing its community bank business strategy on Puerto Rico.
Doral's board and managerial ranks continue to be strengthened. In addition, Doral's expense base in future periods will no longer be burdened to the same extent by costs associated with its accounting, regulatory and legal challenges. Doral's risk management and compliance capabilities have been enhanced, which should help it navigate through a number of remaining challenges. These challenges include...
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