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S&P Downgrades Liberty Puerto Rico’s Credit Rating to CCC with Negative Outlook

Published Oct 25, 2026, 7:53 PM ASTvia Sin Comillas

At a glance

  • S&P Global Ratings downgraded Liberty Communications of Puerto Rico’s issuer rating from CCC+ to CCC with a negative outlook, saying a default or debt exchange is inevitable within six months.
  • Liberty faces difficulty refinancing about $1.2 billion in debt maturing in October 2027; restructuring talks with banks were suspended in September.
  • Liberty Puerto Rico’s earnings rose 6.6% in the second quarter, after a 26.3% increase in 2025 that followed a 36.5% drop in 2024 tied to migrating AT&T customers from the 2020 acquisition.

Why this matters: Liberty is one of Puerto Rico’s main telecom providers, so a potential default on its $1.2 billion debt could affect the island’s telecommunications market and service reliability for local households and businesses.

S&P Global Ratings downgraded the long-term issuer credit rating of Liberty Communications of Puerto Rico (LCPR) from "CCC+" to "CCC." The outlook is negative, reflecting the possibility of a lower rating. The agency considers a default or a debt exchange inevitable within the next six months.

S&P believes Liberty will struggle to refinance roughly $1.2 billion in debt that matures in October 2027. LCPR has held restructuring talks with banks, but those talks were suspended in September. Liberty Puerto Rico’s earnings rose 6.6% in the second quarter of this year.

Earnings had risen 26.3% in 2025 after a 36.5% drop in 2024, which were affected by the process of migrating AT&T customers following the acquisition of that company’s assets in 2020.

SourceSin ComillasOriginal in Spanish · 787daily summarizes; the reporting is theirs · How we work · Report an error

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