The extension of Chapter 9 provisions governing the adjustment of municipal debt in Puerto Rico would be a positive and important development for Puerto Rico and holders of debt of its public utilities and public instrumentalities, Fitch Ratings said Wednesday.
Gov. Alejandro García-Padilla announced Wednesday the filing of a bill to establish the framework to allow Puerto Rico corporations in fiscal troubles to conduct an organized restructuring of their debt.
Puerto Rico’s road to economic recovery is feasible, but remains a long one and depends entirely on the government’s commitment to lowering electricity costs, stabilizing fiscal revenue, reverting net outward migration, and increasing private investment, H. Calero Consulting Group Inc. expressed in the latest edition of “Compass,” its quarterly publication.
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