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.
Puerto Rico Gov. Ricardo Rosselló announced that the Fiscal Agency and Financial Advisory Authority acting on behalf of the Puerto Rico Electric Power Authority has reached an agreement in principle regarding an enhancement of the terms of the restructuring support agreement with the Ad Hoc Group of PREPA bondholders, its fuel line lenders, the monoline insurers and the Government Development Bank for Puerto Rico.
The Subcommittee on Indian, Insular and Alaska Native Affairs held an oversight hearing on the status of the Puerto Rico Electric Power Authority Restructuring Support Agreement, pressing for certain specifics the island’s top administrators could not provide.
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