Company: OIA
Filing Date: 2025-03-13
Form Type: 424B5
Source: 0001104659-25-023508
Chunk: 179

Company: Invesco Municipal Income Opportunities Trust
Filing Date: 2025-03-13
Form: 424B5
Chunk 179
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 has become one of the largest and most complex disaster relief efforts in U.S. history. In addition, the southwestern part of Puerto Rico has been struck by a swarm of earthquakes that began on December 28, 2019, and continued into 2021. On September 18, 2022 Hurricane Fiona made landfall, again causing significant infrastructure damages and loss of basic utilities. With the onset of the pandemic, the economy of Puerto Rico virtually ground to a halt as the public health imperative for people to stay at home left all but the most essential workers unable to travel to their places of business. The economy responded to the vast amount of local and federal stimulus funding, and an economic recovery is now underway, though there is still significant uncertainty about the future of the Puerto Rican economy. The long-term effects of the COVID-19 pandemic are currently unpredictable. The long-term behavioral changes associated with the pandemic (i.e., reduced travel, increased work from home, reduced activity in large gathering places, etc.) are also unknown. Outstanding issues relating to the potential for a transition to statehood may also have broad implications for Puerto Rico and its financial and credit positions. The power to grant statehood resides with the U.S. Congress. Litigation.In addition to the litigation described above, the Commonwealth, its officials and employees are named as defendants in legal proceedings that occur in the normal course of governmental operations. Some of these proceedings involve claims for substantial amounts, which if decided against the Commonwealth might require the Commonwealth to make significant future expenditures or substantially impair future revenue sources. Because of the prospective nature of these proceedings, it is not presently possible to predict the ultimate outcome of such proceedings, estimate the potential impact on the ability of the Commonwealth to pay debt service costs on its obligations, or determine what impact, if any, such proceedings may have on a fund’s investments. Credit Rating.In February 2014, Puerto Rico’s then outstanding general obligation bonds were downgraded to non-investment grade or “junk” status by Moody’s and S&P. Following multiple further downgrades S&P discontinued its ratings for the Commonwealth’s general obligation bonds in 2018 and Moody’s withdrew its ratings for the Commonwealth’s general obligation bonds in 2021. On May 12, 2022, following the Effective Date of the Plan of Adjustment, Fitch withdrew its D rating and announced that it will no longer provide ratings for the Commonwealth .S&P, Fitch and Moody’s do not currently maintain a rating for the New GO Bonds or an issuer rating for