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Puerto Rico Governor Ends Utility Debt Restructuring Deal

LATAM
  • Puerto Rico's governor axed an $8.3 billion debt-restructuring agreement for the U.S. territory's bankrupt public power utility, reflecting a lack of political support for raising electricity rates to pay off bondholders. (WSJ)
  • He cited the dramatically changed economic landscape since the deal was reached with bondholders in 2019.
  • The implementation of the agreement for the Puerto Rico Electric Power Authority is not feasible or in the best interest of the island, Pierluisi said in a statement on Tuesday.

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