Puerto Rico had greater financial resources than it previously claimed, but there continues to be little transparency in the process, and audited financial statements still have not been produced since 2014, said Dominic Frederico, CEO of Assured Guaranty Ltd., which holds government debt.
Reactions from the public and private sector poured in Thursday on the Revised Fiscal Plans for the government of Puerto Rico, the Puerto Rico Electric Power Authority and the Puerto Rico Aqueduct and Sewer Authority presented to the Financial Oversight and Management Board for Puerto Rico for certification.
Assured Guaranty, a monoline insurer for Puerto Rico Electric Power Authority debt, reacted to the administration’s announced plans to privatize the utility by saying agreeing on an “on an experienced, highly qualified manager able to impose order, transparency and accountability” is long overdue.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
