Puerto Rico Gov. Alejandro García-Padilla met with a group of unidentified advisors to the Commonwealth’s creditors to communicate, first hand, the need for Puerto Rico reach a broad restructuring of its $70 billion public debt to sustainable levels, his office said Tuesday.
The Puerto Rico Electric Power Authority has asked creditors for a two-week extension through May 13 to file its rate case before the Puerto Rico Energy Commission, which is a key element in the restructuring support agreement reached with creditors.
The Puerto Rico Bankers Association said Wednesday the government’s decision to include Puerto Rico Electric Power Authority in the Puerto Rico Emergency Moratorium and Financial Rehabilitation Act could jeopardize the closing this year of the consensual restructuring support agreement.
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