Government Development Bank for Puerto Rico

Website: http://www.gdbpr.com

Credit Ratings

Credit Rating Reports on the Government Development Bank

Go to Commonwealth section to access other credit rating reports affecting GDB debt     Standard & Poor’s – July 14, 2015

View prior reports from Credit Rating Agencies

Security

All Government Development Bank for Puerto Rico (GDB) bonds and notes are payable from revenues and other sources. As additional security, certain debt issues are guaranteed by the Commonwealth of Puerto Rico, or are backed by letters of credit from leading banks, or both, or other collateral.

Functions

GDB is a public corporation of the Commonwealth of Puerto Rico, governed by a seven-member board of directors appointed by the Governor with the advice and consent of the Council of Secretaries. GDB's primary functions are to serve as a:

• Fiscal agent and financial advisor to the Commonwealth of Puerto Rico, its agencies, municipalities, public corporations, and to the Governor.
• Lender to public and private sectors.
• Depositary of Commonwealth funds.

Trustee Under the Trust Agreement or Successor Trustee:
Bank of New York for GDB Bonds
Wilmington Trust, National Association for GDB Notes

Financial Statements Audited by:

KPMG LLP

Financial Statements and Reports