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Puerto Rican power utility, creditors reach deal to cover $416 million payment

 PREPA 2

Puerto Rican power utility, creditors reach deal to cover $416 million payment Option Trading Partners Breaking News – The Puerto Rican power utility, also known as PREPA, reached a deal with its creditors to make its $416 million payment Wednesday. The deal between the involved parties also extends the forbearance pact, which was set to expire…

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The Author

John McCarthy

John McCarthy

John McCarthy is primarily known for his investigative reporting on the U.S. Virgin Islands. A series of reports beginning in the 1990's revealed that there was everything from coliform bacteria to Cryptosporidium in locally-bottled St. Croix drinking water, according to a then-unpublished University of the Virgin Islands sampling. Another report, following Hurricane Hugo in 1989, cited a Federal Emergency Management Agency (FEMA) confidential overview that said that over 40 percent of the U.S. Virgin Islands public lives below the poverty line. The Virgin Islands Free Press is the only Caribbean news source to regularly incorporate the findings of U.S. Freedom of Information Act requests. John's articles have appeared in the BVI Beacon, St. Croix Avis, San Juan Star and Virgin Islands Daily News. He is the former news director of WSVI-TV Channel 8 on St. Croix.

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