The four projects are the transformation of the maritime transportation system; water meter optimization system; energy storage; and student life.
S&P Global Ratings is withdrawing its 'CC' long-term and underlying ratings, and negative outlook, on Puerto Rico Aqueduct and Sewer Authority’s series 2008A, 2008B, 2012A and 2012B revenue bonds due to a lack of sufficient information.
The Financial Oversight and Management Board for Puerto has asked the Puerto Rico government to revise the proposed fiscal plans for the Commonwealth, the Puerto Rico Electric Power Authority and the Puerto Rico Aqueduct and Sewer Authority, as per letters sent Monday.
Gov. Ricardo Rosselló introduced a measure to the Puerto Rico Legislative Assembly that would allow the central government to issue loans to the Puerto Rico Electric Power Authority (PREPA) and the Puerto Rico Aqueduct and Sewer Authority (PRASA).
The Commonwealth of Puerto Rico is facing new risks and economic uncertainty following the devastation caused by Hurricane Maria last week, Moody’s Investors Service concluded in a report released Tuesday.
The Financial Oversight and Management Board for Puerto Rico on Friday approved and certified the fiscal plans of four covered territorial agencies: the Government Development Bank; Puerto Rico Highways and Transportation Authority; Puerto Rico Aqueduct and Sewer Authority; and Puerto Rico Electric Power Authority, with amendments.
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.
Puerto Rico Acting Gov. Víctor Suárez, signed House Bill 2864 into law Wednesday, creating the Puerto Rico Aqueduct and Sewer Authority Revitalization Act, a statute that gives the water utility the tools to access capital markets and achieve self-sustainability.
S&P Global Ratings lowered its ratings on the Puerto Rico Aqueduct & Sewer Authority's series 2008 and 2012 senior-lien revenue bonds two notches to 'CC' from 'CCC-'. The outlook is negative.
Puerto Rico Aqueduct and Sewer Authority Executive Director Alberto Lázaro confirmed Thursday the agency is waiting for the governor to sign the law that will allow it to pursue external financing to begin talking to creditors next month.
The Puerto Rico Aqueduct and Sewer Authority has reached forbearance agreements with a number of federal and local government agencies to put off making payments for at least six months, according to filings submitted to the Municipal Securities Rulemaking Board on Wednesday.
A yet undefined increase on water rates for residential and commercial customers could come as early as mid-July, if lawmakers are unable to move a bill authorizing financing mechanisms for the cash-strapped Puerto Rico Aqueduct and Sewer Authority, agency officials said Wednesday.
The Associated General Contractors of America, Puerto Rico Chapter (AGC-PR) on Monday blasted Senate President Eduardo Bhatia for withdrawing the Puerto Rico Aqueduct Authority Revitalization Act, saying holding off on its approval “is an attack on the island’s welfare and the future of the construction industry.”
Puerto Rico Aqueduct and Sewer Authority Executive Director Alberto Lázaro said Sunday the chances of an increase in water rates could be pushed back with the approval of House Bill 2786, which seeks to address the public corporation’s funding needs for capital improvements.
The Puerto Rico Aqueduct and Sewer Authority has identified and will be selling three properties in San Juan, Guaynabo and San Juan worth a combined $2.8 million to inject cash into its coffers, agency Executive Director Alberto Lázaro said Tuesday.
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