The Puerto Rico Aqueduct and Sewer Authority’s (PRASA) board of directors on Tuesday authorized the creation of a Memorandum of Understanding to provide staff and services to the PRASA Revitalization Corp., formed recently to provide external financing to the cash-strapped water utility.
Backyard Bondholders, a nonprofit group representing more than 60,000 individual Puerto Rican creditors holding about $15 billion in public debt, warned Monday that the government’s proposed 10-year fiscal plan would jeopardize future economic growth recovery.
A pre-audit survey report released Monday by the Commission for the Comprehensive Audit of the Public Credit of Puerto Rico analyzing a $673 million bond issue by the Puerto Rico Electric Power Authority has raised a number of questionable aspects of the transaction completed in 2013.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
