Board Rejects Rate Increase to Help Restructure Debt of Puerto Rico Power Company

The executive director of a federal control board that oversees Puerto Rico’s finances says it is “impossible” for the U.S. territory to pay the $8.5 billion bondholders are demanding in a bankruptcy case involving the island’s power company

The executive director of a federal control board that oversees Puerto Rico’s finances says it is “impossible” for the U.S. territory to pay the $8.5 billion bondholders are demanding in a bankruptcy case involving the island’s power company