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1/20/2019
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surge luego de nuestrosesfuerzoscon las casasacreditadoras:
FromThe BondBuyer:
PREPA'smovesto rebuilditssystemseenaspositive By RobertSlavin
PublishedDecember12 2018, 3:59pm EST
The PuertoRicoElectricPowerAuthority movedcloserto restoringits credit, as it canceleda plansfor a naturalgas port and receivedfive bids for its transmissionand distribution system.
The developmentsare both financiallypositivefor the authority, Moody'sInvestors Serviceanalyst RickDonnersaid Tuesday.Last month the authority canceleda plan to build a natural gas port that had been criticizedas costly and possiblyinflationary, dependingon gas prices,and on Dec.6 the governorannounced the authority receivedthe bidsfor its grid.
Pennieson the dollar marketpriceof PREPArevenuebondsin
2018
"Today,the specializedprivatesectorshowsthat they trust what we are doing and they are willing to invest in the island," Gov. RicardoRossellesaid last week, in announcingthat the five privatesectorentitieshadbidforthePREPAconcession.
PuertoRico'sPublicPrivatePartnershipAuthority will evaluatethe bids,the governorsaid.PuertoRicohopesto pickoneof them by December2019, Donnersaid.
Donner,Moody'sSeniorCreditOfficer,saidthe numberof bidders was a good sign: "five is better than one."
Howthis processandthe saleof PREPA'spowergeneration facilitieswill affect the debt isn't fully clearyet, Donnersaid.The localgovernmentplansto usesomeof the proceedsto payoff the debt. How much of the debt could be paid off this way remainsto be seen.
"Thepublicprivatepartnershipconcessionof PREPA's transmissionand distribution system is the type of structural reform that providessustainability,and thus capacityfor debt repayment,to the economyof PuertoRico,"saidAdvantage BusinessConsultantsPresidentVicente Feliciano.
"For the private sector, the timing of the public private partnershipis particularlygood," Felicianosaid."For one, [after recentfederalpost-hurricaneaid] manypartsof the systemare
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