Puerto Rico Reaches Deal With Some Power Company Bondholders

NewsOK.com RSS - business >> !The Oklahoman, Daily Oklahoman: Business
Mon, 07/30/2018 - 6:59pm

SAN JUAN, Puerto Rico (AP) — Puerto Rico's government has reached a deal with a bondholder group to restructure more than a third of the debt owed by its troubled power company as the utility moves toward privatization. Officials call it an "important milestone" and promise the deal will not require Puerto Ricans to be hit with rate increases to cover debt service if there is a drop in power usage. Bondholders will exchange the debt they hold from Puerto Rico's Electric Power Authority for two new bonds.Read more on NewsOK.com

Topics: san juan puerto rico ap puerto rico officials puerto ricans bondholders puerto rico's electric power authority newsok deal power company debt

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Puerto Rico Reaches Deal With Some Power Company Bondholders

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