Newspaper headlines and radio and TV news reports have become a definitive recipe for depression. As a matter of fact, I can’t watch the evening news unless I want to guarantee my usual insomnia. Furthermore, these articles and stories have made me realize that Puerto Rico has become “bizarre” country, an unforgiving “La-la land.”
The Puerto Rico Electric Power Authority needs to undergo profound changes to improve its fiscal situation and consumer services, something that could happen under the supervision of an external, independent regulatory board, members of the Center for a New Economy think tank said Tuesday.
The chain of rating downgrades affecting Puerto Rico’s credit added yet another link Monday, when Moody's Investors Service cut the rating on approximately $8.0 billion of outstanding power revenue bonds held by Puerto Rico Electric Power Authority's to Baa2 from Baa1.
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