Moody’s Investors Service's July 6 downgrade of the Puerto Rico Electric Power Authority’s credit rating to from Caa3 to Ca reflects “the increased uncertainty that now exists regarding the outcome and the timing of a future debt restructuring plan for PREPA, which in the end will lower bondholder recoveries.
George Pataki, Former New York Gov. and advisor to Ad Hoc Group Of Puerto Rico General Obligation Bondholders, Issued a memorandum saying Gov. Rosselló and the Fiscal Board are acting in bad faith.
In Puerto Rico we have focused so much on the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) that we seem to have forgotten that we are part of a much larger economy beyond our 100x35 and that what happens there has an impact on us.
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