Francisco J. Domenech, Esq, Governor’s Chief of Staff and Executive Director of AAFAF
Puerto Rico Fiscal Agency and Financial Advisory Authority
Puerto Rico Fiscal Agency and Financial Advisory Authority
Learn about Puerto Rico Fiscal Agency and Financial Advisory Authority including our News & Press Releases and Team.
Have questions? Reach out to us directly.
Learn about Puerto Rico Fiscal Agency and Financial Advisory Authority including our News & Press Releases and Team.
The Puerto Rico Fiscal Agency and Financial Advisory Authority (𝗔𝗔𝗙𝗔𝗙, its Spanish acronym) is an independent public corporation and governmental instrumentality with separate legal existence, fiscal and administrative autonomy. Its main responsibility is to act as an agent, financial advisor and reporting entity of the Government of Puerto Rico, its agencies, instrumentalities, subdivisions, public corporations and municipalities.
AAFAF's Core Objectives
Puerto Rico government releases audited financial statements for fiscal year 2022, creates committee for the recovery of Puerto Rico’s credit rating and economic development council.
Please view the attached document.
The Government of Puerto Rico announces the issuance of its FY 2021 Audited Financial Statements. This is the fourth audited financial statement issued in a 2 ½ years and the Government is already working towards the FY 2022 Audited Financial Statements issuance by the end of 2023.
Please click the link to view the document.
The Children’s Trust is a not-for-profit corporate entity created pursuant to Act No. 173- 1999, as amended, as a public instrumentality of the Commonwealth of Puerto Rico. The Children’s Trust was created to securitize future payments from cigarette manufacturers under a tobacco litigation Master Settlement Agreement. Learn more about the Children's Trust here.
The Puerto Rico Municipal Finance Agency (“MFA”) is a public corporation of the Government created pursuant to Act No. 29 of June 30, 1972, as amended. MFA is authorized to issue bonds to purchase general obligation bonds and notes of Puerto Rico municipalities. Learn more about the MFA here.
The Puerto Rico Aqueduct and Sewer Authority (“PRASA”) is a public corporation and instrumentality of the Government created under Act No. 40 of May 1, 1945, as amended. PRASA owns and operates Puerto Rico’s public water supply and wastewater systems. Such systems provide water and wastewater services to approximately 97% and 59% of the Puerto Rico’s population, respectively. Learn more about PRASA here.
The Puerto Rico Electric Power Authority (“PREPA”) is a public corporation of the Government of Puerto Rico created pursuant to Act No. 83 of May 2, 1941, as amended. PREPA owns and operates electric generation, transmission and distribution facilities serving all of Puerto Rico. As the sole electric utility in Puerto Rico, PREPA provides electricity to approximately 1.5 million customers.
On June 22, 2020, PREPA and the Puerto Rico Public-Private Partnership Authority (“P3 Authority”) selected LUMA Energy, LLC to operate, maintain and modernize the electricity transmission and distribution system of PREPA for fifteen years through a public-private partnership. For more information on this initiative, please visit the P3 Authority’s website at: https://aafaf.pr.gov/p3/projects/
Learn more about PREPA here.
The Puerto Rico Highways and Transportation Authority (“HTA”) is a public corporation created pursuant to Act No. 74 of June 23, 1965, as amended. HTA was created for the purpose of constructing, operating and maintaining Puerto Rico’s toll road network, major highways and mass transportation facilities. Learn more about HTA here.
The Puerto Rico Housing Finance Authority (“PRHFA”) is a governmental instrumentality created pursuant to Act No. 103-2001, as amended. PRHFA was created to provide public and private housing developers with interim and permanent financing through mortgage loans for the construction, improvement, operation, and maintenance of rental housing for low- and moderate-income families.
Learn more about PRHFA here
The Puerto Rico Industrial Development Company (“PRIDCO”) is a public corporation of the Government of Puerto Rico created pursuant to Act No. 188 of May 11, 1942, as amended. PRIDCO was created for the purpose of attracting private capital into Puerto Rico to establish trade and industrial operations on the Island.
The Puerto Rico Industrial, Tourist, Educational, Medical, and Environmental Control Facilities Financing Authority (“AFICA”) is a public corporation of the Government created pursuant to Act No. 121 of June 27, 1977, as amended. AFICA was created to provide financing for the acquisition, construction, and equipping of industrial, tourist, medical, educational, pollution control and solid waste disposal facilities through the issuance of private activity revenue bonds by acting as conduit issuer.
Learn more about AFICA and apply for financing here.
The Puerto Rico Sales Tax Financing Corporation (“COFINA”, for its Spanish acronym) is a public corporation of the Government of Puerto Rico created pursuant to Act No. 91-2006, as amended. COFINA was originally created for the purpose of financing the payment, retirement or defeasance of certain debt obligations of the Government of Puerto Rico. On November 15, 2018, Governor Rosselló Nevares signed into law Act No. 241-2018, which amended and restated Act No. 91-2006 to establish a legal framework for the restructuring of COFINA’s issued and outstanding bonds. Learn more about COFINA here.
The University of Puerto Rico (“UPR”) is a public corporation of the Government created pursuant to Act No. 1 of January 20, 1966, as amended. The UPR is the main public university system of Puerto Rico, which consists of eleven campuses and has approximately 58,000 students and 5,300 faculty members. UPR has the largest and most diverse academic offerings in Puerto Rico and the Caribbean.
Learn more about the UPR here.
Pursuant to the confirmation of the Modified Eight Title III Joint Plan of Adjustment of the Commonwealth of Puerto Rico (the “POA”), which became effective on March 15, 2022, and other related restructurings under Title VI of PROMESA, certain Puerto Rico government entities (issuers) legacy debts were resolved. As of April 30, 2023, the following Puerto Rico government entities no longer have outstanding public debts:
Governmental Entity Name
Public Buildings Authority (“PBA”)
Employees Retirement System of Puerto Rico (“ERS”)
Public Finance Corporation (“PFC”)
Puerto Rico Infrastructure Financiting Authority (“PRIFA”)
Puerto Rico Convention Center District Authority (“PRCCDA”)
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