Puerto Rico board chair says PREPA payout remains unclear
How $5.7 billion will be divided among creditors remains to be figured out.
Source: bondbuyer.com
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How $5.7 billion will be divided among creditors remains to be figured out.
Their support of a plan of adjustment could be key to winning approval from Bankruptcy Judge Swain.
The board says the law will reduce economic activity and government revenues.
The authority will takes steps to raise $1 billion to address expected growth of expenses.
The board said the projects will result in up to $387 million of savings over a 15-year period.