Puerto Rico governor, bondholders divided on PREPA deal

Puerto Rico governor, bondholders divided on PREPA dealPuerto Rico’s governor told U.S. lawmakers on Wednesday the island’s struggling power utility, PREPA, could undergo an in-court restructuring process akin to U.S. bankruptcy if a consensual deal with creditors cannot be achieved. Governor Ricardo Rossello said at a U.S. House Natural Resources subcommittee hearing his administration would prefer a consensual deal to bankruptcy, as lawmakers questioned him about delays in completing a $ 9 billion restructuring at PREPA. The hearing showcased growing discord between Rossello’s administration and PREPA’s creditors, which seemed to concern the committee in charge of leading Congress’ response to Puerto Rico’s ongoing crisis.



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