The announcement last week that Puerto Rico will receive almost $13 billion in new disaster aid from the Federal Emergency Management Agency, primarily to rebuild the island’s power grid, is credit positive, Moody’s Investors Service said. “The announcement is credit positive for both Puerto Rico Electric Power Authority (PREPA: Ca, Neg) and the Commonwealth of […]
The Federal Emergency Management Agency and the Puerto Rico Central Office for Recovery, Reconstruction and Resilience, or COR3, announced the obligation of more than $91.4 million in additional funds for 135 projects related to the recovery and reconstruction of Puerto Rico after Hurricane María. These grants were assigned during the week of Sept. 11-17, the government agencies confirmed. Among the […]
During periods of major disruption, confusion and chaos often obscure reality, vision, cause and effect, and clarity of thought. With Hurricane María, bankruptcy, global warming, governmental disintegration, and the pandemic – just to name a few – it’s not surprising that Puerto Rico has also been suffering from encumbered decision-making from antiquated leadership. With the […]
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