Puerto Rico

Local Media Consortium Releases Member Survey of COVID-19 Impact on Local Newspapers

Thursday, August 13, 2020 - 2:00pm

FTI Consulting conducted the survey during the first two weeks of July, surveying LMC newspaper media members.

Key Points: 
  • FTI Consulting conducted the survey during the first two weeks of July, surveying LMC newspaper media members.
  • The survey results were close to the forecast FTI developed in April and June for US newspapers through 2021.
  • The Local Media Consortium delivers economic value through strategic partnerships on behalf of 90 local media companies across the United States, Canada and Puerto Rico, and includes more than 4,000 newspaper, radio, TV and online only news outlets.
  • FTI's Publishing + Digital Media practice partners with the media industry around business transformation.

CreakyJoints® Español to Emcee the Puerto Rican Foundation for Rheumatic Diseases ReumaExpo 2020 International, Digital Edition

Wednesday, August 12, 2020 - 4:00pm

On August 22, 2020, CreakyJoints Espaol, the digital patient community for people with all forms of arthritis and part of the Global Healthy Living Foundation , in partnership with the Puerto Rican Foundation for Rheumatic Diseases (FER), will act as the master of ceremonies (MC) for FERs Spanish language ReumaExpo 2020 International, Digital Edition.

Key Points: 
  • On August 22, 2020, CreakyJoints Espaol, the digital patient community for people with all forms of arthritis and part of the Global Healthy Living Foundation , in partnership with the Puerto Rican Foundation for Rheumatic Diseases (FER), will act as the master of ceremonies (MC) for FERs Spanish language ReumaExpo 2020 International, Digital Edition.
  • The ReumaExpo 2020 International, Digital Edition will be live streamed for free on Saturday, August 22, 10:00 a.m. 2:00 pm on Facebook and YouTube.
  • The Global Healthy Living Foundation and CreakyJoints Espaol are longtime supporters of FER, sponsoring their weekly radio program that airs on Radio Isla 1320, Radioisla.tv, and Facebook Live.
  • CreakyJoints Espaol also partnered with FER to launch in 2019 the first Congress of Rheumatoid Arthritis Patients in Puerto Rico.

PAOG Cannabis Pharma Initiative Stands to Benefit From Senator Marco Rubio and Congresswoman Jenniffer González Colón New Bill

Tuesday, August 11, 2020 - 5:19pm

SANDUSKY, Ohio, Aug. 11, 2020 /PRNewswire/ -- PAO Group, Inc. (USOTC: PAOG) today announced that the company's ongoing business development initiative in Puerto Rico could benefit from a new bill introduced by Senator Marco Rubio and Congresswoman Jenniffer Gonzlez Coln.

Key Points: 
  • SANDUSKY, Ohio, Aug. 11, 2020 /PRNewswire/ -- PAO Group, Inc. (USOTC: PAOG) today announced that the company's ongoing business development initiative in Puerto Rico could benefit from a new bill introduced by Senator Marco Rubio and Congresswoman Jenniffer Gonzlez Coln.
  • Congresswoman Jenniffer Gonzlez Coln and Florida Senator Marco Rubio introduced legislation last week to position Puerto Rico as a national production center of medical equipment and drugs.
  • "The coronavirus pandemic has made it clear that we must rebuild our national manufacturing capacity, especially in our medical industry," Rubio said .
  • In the interview, Mr. DiPrima confirms a recently published new PAOG website and the coming publication of PAOG's financial reports.

AM Best Affirms Credit Ratings of Humana Inc. and Majority of Its Health Subsidiaries; Maintains Positive Outlooks

Thursday, August 6, 2020 - 8:17pm

Concurrently, AM Best has affirmed the Long-Term ICR of bbb- and the existing Long-Term Issue Credit Ratings (Long-Term IRs) of Humana.

Key Points: 
  • Concurrently, AM Best has affirmed the Long-Term ICR of bbb- and the existing Long-Term Issue Credit Ratings (Long-Term IRs) of Humana.
  • The health and dental subsidiaries are collectively referred to as Humana Health Group.
  • Moreover, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICRs of bbb of the following Humana subsidiaries, Humana Insurance of Puerto Rico, Inc. and Humana Health Plans of Puerto Rico, Inc.
  • These companies are domiciled in Puerto Rico and collectively are referred to as Humana Health of Puerto Rico Group.

AM Best Affirms Credit Ratings of Members of AmFirst Holdings, Inc. and AmFirst Specialty Insurance Company

Wednesday, August 5, 2020 - 10:14pm

AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of a- of AmFirst Insurance Company (AmFirst) (Oklahoma City, OK) and its wholly owned subsidiaries, Monitor Life Insurance Company of New York (Monitor Life) (Utica, NY), AmFirst Life Insurance Company, I.I.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of a- of AmFirst Insurance Company (AmFirst) (Oklahoma City, OK) and its wholly owned subsidiaries, Monitor Life Insurance Company of New York (Monitor Life) (Utica, NY), AmFirst Life Insurance Company, I.I.
  • Concurrently, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of bbb+ of AmFirsts subsidiary, AmFirst Specialty Insurance Company (AmFirst Specialty) (Ridgeland, MS).
  • The ratings also benefit from the implicit and explicit support of its immediate parent, AmFirst Insurance Company, and its ultimate parent, AmFirst Holdings, Inc. (AHI).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .

Retail Value Inc. Reports Second Quarter 2020 Operating Results

Wednesday, August 5, 2020 - 9:05pm

As of July 31, 2020, tenants for the entire company had paid approximately 63% of second quarter rents and 75% of July rents.

Key Points: 
  • As of July 31, 2020, tenants for the entire company had paid approximately 63% of second quarter rents and 75% of July rents.
  • As of July 31, 2020, the Company had reached deferral arrangements with tenants representing approximately 14% of second quarter rents and 8% of July rents.
  • In addition, during the second quarter the Companys rental revenue and NOI were reduced by $6.8 million of uncollectible revenue primarily related to reserves associated with cash-basis tenants triggered by the impact of COVID-19.
  • Operating FFO is useful to investors as the Company removes non-comparable charges and income to analyze the results of its operations and assess performance of the core operating real estate portfolio.

Popular, Inc. Declares Dividend on Preferred Stock, Announces Distribution on Trust Preferred Securities

Tuesday, August 4, 2020 - 6:51pm

The Corporation also announced the following monthly distributions on its outstanding Trust Preferred Securities:

Key Points: 
  • The Corporation also announced the following monthly distributions on its outstanding Trust Preferred Securities:
    a monthly distribution of $0.139583 per security of 6.700% Cumulative Monthly Income Trust Preferred Securities issued by Popular Capital Trust I, payable on September 1, 2020 to holders of record as of August 15, 2020; and
    a monthly distribution of $0.127604 per security of 6.125% Cumulative Monthly Income Trust Preferred Securities issued by Popular Capital Trust II, payable on September 1, 2020 to holders of record as of August 15, 2020.
  • Popular, Inc. (NASDAQ: BPOP) is the leading financial institution by both assets and deposits in Puerto Rico and ranks among the top 50 U.S. bank holding companies by assets.
  • Founded in 1893, Banco Popular de Puerto Rico, Populars principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands.
  • Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries.

First BanCorp. Announces Payment of Dividends on Preferred Stock

Monday, August 3, 2020 - 9:45pm

is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC.

Key Points: 
  • is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC.
  • Among the subsidiaries of FirstBank Puerto Rico are First Federal Finance Limited Liability Company and First Express, Inc., both small loan companies.
  • First BanCorps shares of common stock trade on the New York Stock Exchange under the symbol FBP.
  • Such forward-looking statements include, but are not limited to, statements regarding the Corporations ability to declare dividends on the Corporations Preferred Stock in any future periods.

Schnitzer Board Declares Quarterly Dividend

Friday, July 31, 2020 - 11:30pm

The Board of Directors of Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) declared a cash dividend of $0.1875 per common share, payable August 24, 2020, to shareholders of record on August 10, 2020.

Key Points: 
  • The Board of Directors of Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) declared a cash dividend of $0.1875 per common share, payable August 24, 2020, to shareholders of record on August 10, 2020.
  • Schnitzer has paid a dividend every quarter since going public in November 1993.
  • Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled metal products in North America with operating facilities located in 23 states, Puerto Rico and Western Canada.
  • Schnitzer has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico.