Puerto Rico Power Company Forced to Sell Bonds Amid Crisis

Puerto Rico's troubled power company has been forced to sell bonds once again to obtain capital and avoid defaulting on a $415 million debt payment due Wednesday with a worsening economic crisis in the U.S. territory. The Electric Power Authority said in a statement that it paid $153 million in cash and the remainder from its debt service reserve accounts. In turn, creditors agreed to buy $128 million worth of new bonds to provide liquidity, and those bonds have to be paid in full by...

© La Voix de l'Amérique - mercredi 1^er juillet 2015