Puerto Rico’s financial oversight board is amending its plan to reduce $9 billion of Electric Power Authority debt to reflect steeper-than-expected declines in energy consumption, Bloomberg News reported.
Puerto Rico in Distress
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Barely a year out of bankruptcy, Puerto Rico’s top officials are descending on Wall Street in an attempt to convince global investors that the Caribbean island — long battered by hurricanes and fiscal mismanagement — is open for business, Bloomberg News reported.
The Supreme Court ruled on Thursday against an organization of Puerto Rican journalists in its quest for documents from the financial oversight board created to deal with the island territory's bankruptcy, the Associated Press reported.
As Puerto Rico emerges from a drawn-out bankruptcy process, a federal control board that oversees the island’s finances announced that it will focus on growing the U.S. territory’s economy, the Associated Press reported.