Puerto Rico Electric Power Authority and Debt Restructuring Under PROMESA, P.L. 114-187 [August 08, 2017] [open pdf - 103KB]
"In recent years, the Commonwealth of Puerto Rico (CPR) has faced a fiscal crisis resulting from economic contraction, high public sector debt levels, outmigration, and other factors. In recent weeks, the finances of the Puerto Rico Electric Power Authority (PREPA)--or in Spanish, the Autoridad de Energía Eléctrica (AEE)--have attracted specific attention. PREPA's debt--about $9 billion--is larger than that of any other operational U.S. public corporation. Planned actions to address the debt, and high electricity prices due to the deteriorating state of the island's generating and transmission infrastructure, may adversely affect its economic development prospects and the well-being of its residents. Moreover, the restructuring of PREPA could have wider implications for municipal finance and infrastructure policy."
CRS Insight, IN10747
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html