PREPA extends RSA agreement with creditors
December 16, 2016
The Puerto Rico Electric Power Authority, Puerto Rico’s publicly owned electricity provider, announced Thursday an extension of the Restructuring Support Agreement to March 31, 2017.
chat_bubble0 Comment
visibility1823 Views
Studies: PREPA’s proposed rate hike is economy killer
December 6, 2016
The rate hike that the Puerto Rico Electric Power Authority and its bondholders are proposing would further erode the island’s economy and set back its recovery, members of the island’s private sector claimed Monday.
chat_bubble0 Comment
visibility1525 Views
Oriental CEO ‘pleased’ PROMESA Board is active
October 24, 2016
Oriental Bancorp reported $11.7 million in net income for the third quarter of 2016 ended Sept. 30.
chat_bubble0 Comment
visibility1691 Views
Op-Ed: Sunnova is committed to Puerto Rico
October 17, 2016
Over the past three years, Sunnova has worked diligently to provide clean, affordable energy to its customers in Puerto Rico.
chat_bubble3 Comments
visibility3801 Views
Probe reveals questionable aspects of PREPA bond issue
October 4, 2016
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.
chat_bubble0 Comment
visibility2538 Views
PREPA to begin implementing $2.4B capital plan
September 28, 2016
The Puerto Rico Electric Power Authority (PREPA) announced Tuesday it will immediately proceed with the implementation of the Integrated Resource Plan, as modified by the Puerto Rico Energy Commission (PREC), which adopted key elements of its $2.4 billion capital investment plan.
chat_bubble0 Comment
visibility2016 Views
Private sector: P.R. power grid needs ‘full overhaul’
September 23, 2016
In the wake of the biggest blackout Puerto Rico has experienced in more than three decades, which has affected more than 1.5 million customers, members of the island’s private sector urged the powers-that-be to push forward with a complete overhaul of the electrical system.
chat_bubble0 Comment
visibility2546 Views
OFG Bancorp sells PREPA credit line for $124M
September 21, 2016
OFG Bancorp announced Tuesday that its subsidiary Oriental Bank’s outstanding participation in a line of credit to the Puerto Rico Electric Power Authority (PREPA) has been sold, thereby significantly reducing its direct exposure to Puerto Rico government related credits.
chat_bubble0 Comment
visibility2224 Views
Oriana Solar Farm begins producing energy in Isabela
September 14, 2016
Oriana Energy LLC, a subsidiary of Sonnedix Group, in partnership with Yarotek, announced Tuesday it has commenced energization of the $160 million Oriana Solar Farm, a 45MW AC (58 MW) solar power plant in Isabela.
chat_bubble0 Comment
visibility4354 Views
P.R. business groups challenge power rate hike
August 19, 2016
A group of nine leading Puerto Rico industry and business associations on Tuesday filed a legal challenge against a Puerto Rico Energy Commission move to impose the first in a series of what they called “unlimited, blank check" rate increases under the Puerto Rico Electric Power Authority debt-restructuring agreement.
chat_bubble0 Comment
visibility2523 Views
7 PR trade groups to file case to block energy rate hike
August 17, 2016
Seven Puerto Rico trade groups will announce today the filing of a lawsuit to block what they call the “disastrous” rate hike proposed under the Puerto Rico Electric Power Authority restructuring deal.
chat_bubble0 Comment
visibility1978 Views
PREPA board extends AlixPartners’ contract for $6.7M
August 16, 2016
The Puerto Rico Electric Power Authority announced Monday the extension of the AlixPartners’ contract to continue the ongoing progress on the comprehensive transformation and debt restructuring of the utility through Dec. 15, 2016, for $6.7 million in fees.
chat_bubble0 Comment
visibility1718 Views
PREPA reaches deal with creditors; S&P cuts rating
July 1, 2016
The Puerto Rico Electric Power Authority announced Thursday its intention to pay all principal and interest due on July 1, 2016 under its power revenue bonds in accordance with the terms of an agreement with creditors holding approximately 70 percent of the utility’s outstanding debt, company officials said.
chat_bubble0 Comment
visibility2737 Views
Moody’s: New surcharge ‘positive’ for PREPA creditors
June 28, 2016
Moody’s Investors Service said Monday the new surcharge on customers’ electricity bills approved last week by the Puerto Rico Energy Commission to be used to pay debt service on new securitization bonds to be issued as part of the Puerto Rico Electric Power Authority’s debt restructuring is positive for creditors.
chat_bubble0 Comment
visibility2899 Views
Private sector balks at PREPA’s planned rate hikes
May 27, 2016
Puerto Rico’s private sector, represented by more than 20 organizations, on Thursday banded together to reject the proposed energy rate increases unveiled by the Puerto Rico Electric Power Authority this week.
chat_bubble0 Comment
visibility3364 Views
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA