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Puerto Rico House Approves Public Utility Reform Bill
international |
economics and finance |
news report
Tuesday February 16, 2016 20:03 by Greg
Legislation Part of Proposed Debt Deal Puerto Rico's House of Representatives approved legislation to reform its highly indebted public utility company "PREPA." The utility company's investors want the reform package before they approve a debt restructuring deal that includes a 15 percent cut in repayments. The bill passed the island's Senate but was amended in the House so will now head back to the Senate for another vote. Puerto Rico is likely to get an extension from lenders on a midnight February 16 deadline to pass the legislation. |