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prima:New Fiscal Oversight Board´s Amended Plan of Adjustment would reduce PREPA´s debt by almost 80%

Unlike the proposal submitted in December 2022, this debt restructuring proposal has substantial support from creditors

August 26, 2023 - 12:55 PM

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This content was published more than 1 year ago.
The plan to pay PREPA's bondholders and other creditors calls for applying, for three decades, a "legacy" charge on the electricity bill that includes a fixed charge of $1 per month for certain residential subscribers plus two consumption charges. (tonito.zayas@gfmedia.com)

The Fiscal Oversight Board filed last night a new Amended Plan of Adjustment for the Puerto Rico Electric Power Authority (PREPA-POA) that has the support of 43% of the creditors and, if confirmed, would cut almost all the public utility´s bonded debt.

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