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Puerto Rico aqueduct & sewer authority sees no debt restructure
June 27, 2014 / 8:50 PM / 3 years ago

Puerto Rico aqueduct & sewer authority sees no debt restructure

NEW YORK, June 27 (Reuters) - Puerto Rico Aqueduct & Sewer Authority (PRASA) does not foresee restructuring its debt, the agency’s executive president Alberto Lazaro said on Friday after a Moody’s downgrade that cited a new local law allowing public corporations to restructure.

“It is our understanding that in PRASA there does not exist any condition that would lead us to think about restructuring our debt. We don’t have the need to use the tools provided by the Recovery Act,” Lazaro said in a statement. (Reporting by Edward Krudy; Editing by James Dalgleish)

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