Puerto Rico in Distress

ABI Analysis

The judge overseeing the bankruptcy of Puerto Rico’s Electric Power Authority is keeping a planned March 4 confirmation hearing, denying a request from some creditors to postpone a discussion of the utility’s debt-cutting plan on that date, Bloomberg News reported.

Puerto Rico’s bankrupt power utility and its creditors squared off in court Monday on whether bondholders have a legal right to the electricity provider’s future revenue, Bloomberg News reported.

More than a dozen U.S. state attorneys general are backing an appeal by creditors of the Puerto Rico Electric Power Authority seeking to challenge a bankruptcy ruling that sharply limits their revenue claims, Bloomberg News reported. U.S.

A proposed amended contract between Puerto Rico’s government and the operator of a coal-fired power plant accused of contaminating low-income communities on the island drew scrutiny Monday during a heated public hearing, the Associated Press reported.