(Reuters) - The new turnaround chief of Puerto Rico's power authority said on Friday she was targeting a "fair plan" in the restructuring of PREPA, with all options on the table but said it was too early to say if job cuts or a privatization would be part of the overhaul.
"We have an opportunity here to really transform PREPA for the benefit of all the people of Puerto Rico and the creditors," said Lisa Donahue, in her first interview since being appointed PREPA's restructuring officer on Thursday.
"We will be in discussions with all our constituents in trying to put together a fair plan, a plan that makes sense for all," she said.
Donahue said no options were off the table as to how to restructure the utility's $9 billion debt, but when asked if PREPA could end up being privatized, she said, "It’s far too early to speculate on what the plan will look like."
"We’re going to have to look at and understand the impact of all options," Donahue said, when asked about the potential for job cuts, price hikes or privatization. "It’s impossible to right now say anything is really off the table."
She also declined to speculate on whether bondholders will take a writedown but said there would be "transparent discussions" with creditors.
(Reporting by Nick Brown, Ed Krudy and Megan Davies)
Puerto Rico turnaround boss targets 'fair plan' for utility
No comments:
Post a Comment