Puerto Rico’s electrical system has failed to resolve core underlying problems that drove it to physical and financial ruin. #NewsismyBusiness
The new Puerto Rico firm helps businesses execute strategy with part-time leadership. #NewsismyBusiness
Open Spaces report finds expenses significantly exceed initial estimates under the Puerto Rico Oversight, Management and Economic Stability Act. #NewsismyBusiness
With more than 25 years of experience, Valle-Castro aims to deliver “significant contributions to new approaches within legal consultancy.” #NewsismyBusiness
The U.S.-based clean energy think tank warns a potential $2.5 billion bond issue for PREPA could significantly impact the financial burden on households. #Newsismybusiness
The debt is related to loans that the CRIM was granted in 2001 and 2002.
While lots of promises have been made about converting Puerto Rico’s grid to renewable energy and lowering costs, up to now, nothing has been done to reach those goals.
The proposed Restructuring Support Agreement for the Puerto Rico Electric Power Authority is not a good transaction for Puerto Rico. Its terms and conditions are overly generous to creditors; it discourages the transition to distributed renewable generation; it is uncertain whether it provides the debt relief necessary to maintain PREPA as a going concern, while […]
Puerto Rico needs a successful long-term economic plan to achieve its goal of inexpensive energy, which calls for — among other things — an efficient and resilient Puerto Rico Electric Power Authority, San Juan-based analysis firm H. Calero Consulting concluded in its monthly internal bulletin. In “Pulse,” the firm also said while overhauling Puerto Rico’s […]
Before Hurricane María, if Puerto Rico were to pay off its debt without completely choking off economic and social development, it needed a total cancellation of the interest on the public debt and a reduction in the principal of approximately 45 percent to 90 percent. Now, in the wake of the storm, the debt relief needed is much greater.
The Fiscal Agency and Financial Advisory Authority, or AAFAF, updated two requests for qualification (RFQ) for roles related to the Government Development Bank’s restructuring support agreement, which were originally posted on its website Aug. 11.
Upon releasing second quarter results, Oriental Financial Group President José Rafael Fernández said despite solid performance, there is a “great deal of uncertainty” moving forward about the economic impact from Puerto Rico’s fiscal restructuring.
Gov. Ricardo Rosselló announced Monday that the Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF, for its Spanish acronym) and the Government Development Bank of Puerto Rico have entered into a restructuring support agreement (RSA) with a significant portion of its major stakeholders.
Recent events related to the ongoing negotiation between the Puerto Rico Electric Power Authority and its creditors, including an extension through March 31 of the restructuring support agreement, suggests there’s still room for consensual accords, Moody’s Investors Service said in an analysis released Thursday.
The Puerto Rico CPA Society submitted a set of suggestions to the Congressional Task Force in Washington to boost four key economic areas in Puerto Rico: Education, health, energy, and fiscal matters.
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