Judge seeks Puerto Rico power company debt restructuring

By DÁNICA COTO
Associated Press

SAN JUAN, Puerto Rico (AP) — A federal judge has ordered a fresh round of mediation talks aimed at restructuring more than $8 billion in debt held by Puerto Rico’s power company as it struggles to recover from Hurricane Fiona. In addition, U.S. District Court Judge Laura Taylor Swain on Wednesday allowed a federal control board that oversees the island’s finances to go to court to determine how much money bondholders should receive as they seek to recover their investments. The board warned earlier that any expenses linked to debt repayment would be passed along to the power company’s 1.47 million clients. More than 311,000 of them remain without power after Fiona hit Puerto Rico.