Puerto Rico’s financial oversight board says it’s still at odds with creditors of the island’s bankrupt power company over how much businesses and residents can afford to pay for electricity, Bloomberg News reported. An “impasse” over energy tariffs is responsible for a recent collapse in negotiations to restructure Puerto Rico Electric Power Authority’s $9 billion in debt, said Prof.
Puerto Rico in Distress
A federal judge on Wednesday approved a plan to restructure some $6 billion of debt held by Puerto Rico’s Highways and Transportation Authority as the U.S. territory emerges from bankruptcy, the Associated Press reported. The plan cuts the agency's debt by more than 80% and saves Puerto Rico more than $3 billion in debt service payments, according to Gov.
McKinsey & Co., the consulting powerhouse that advises not just Puerto Rico’s government but also the primary contractors and vendors for the island territory’s energy system, is facing scrutiny in the wake of the power grid’s continued dysfunction, WSJ Pro Bankruptcy reported.
A federal judge on Wednesday ordered a fresh round of mediation talks aimed at restructuring more than $8 billion in debt held by Puerto Rico’s power company as it struggles to recover from Hurricane Fiona, the Associated Press reported. In addition, U.S.
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