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Among the few bright spots in our local economy is the success of Puerto Rico's bonds in attracting U.S. mainland investors.
A consistently high level of demand has translated into permitting the island to pay lower interest rates on these bonds to investors.
This privileged position has come about for several reasons. First, when Puerto Rico's fiscal picture is compared with many cities and states on the mainland, we look good. While ratings of mainland bonds by such credit rating agencies as Standard and Poor's have been going down, ours have remained firm. Puerto Rico bonds also offer a triple tax exemption (federal, state and municipal) to mainland …