Puerto Rico Agency Says Creditor Plan Adds $3.1 Billion Cost
This article is for subscribers only.
Puerto Rico’s power utility disagrees with a proposal from bondholders to modernize the agency and fix its finances as a contract between the parties is set to expire at month-end.
The bondholder plan to upgrade the utility’s infrastructure to lower fuel expenses would raise costs by about $3.1 billion over nine years, the agency said in an executive summary dated Thursday.