Standards For Uncomplicated Programs For Commercial Debt

The transition charge provides a secure repayment mechanism which reduces uncertainty and increases market confidence in Prepas financial condition, the commission said in a statement. Prepa faces other hurdles before it can execute the restructuring deal. The utility is negotiating with bond insurers and investors holding about 35 percent of Prepas securities to avoid defaulting on a $420 million principal and interest payment due July 1. Under the pact, the bonds must also carry an investment grade from one of the three major credit-rating companies. The restructuring plan would reduce

... Read more