Puerto Rico Power Company Rejects Bondholders' Debt Plan

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Thu, 07/23/2015 - 1:55pm

SAN JUAN, Puerto Rico (AP) — Puerto Rico's power company on Thursday rejected a new proposal from bondholders that calls for an $8.1 billion debt exchange amid growing concerns the public agency could be the first one in the U.S. territory to go bankrupt. The Electric Power Authority said the proposal would not lead to a successful restructuring and does not share the burden of its more than $9 billion debt. "It imposes disproportionate risks on ratepayers and other creditors," the company said in a statement.Read more on NewsOK.com

Topics: san juan puerto rico ap puerto rico the electric power authority newsok bondholders debt power company proposal billion

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Puerto Rico Power Company Rejects Bondholders' Debt Plan

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