Puerto Rico Utility Bondholders Seek Bigger Bankruptcy Payouts [BNN Bloomberg (Canada)]
Assured Guaranty Ltd. (AGO)
US:NYSE Investor Relations:
assuredguaranty.com/investor-information
Company Research
Source: BNN Bloomberg
US District Court Judge Laura Taylor Swain is reviewing a restructuring plan that would cut by about 75% the obligations of Puerto Rico's Electric Power Authority, called Prepa. Assured Guaranty Corp., a group of ad hoc bondholders, GoldenTree Asset Management and other creditors want Swain to also consider updated energy consumption estimates that indicate an increase in demand compared to prior projections, according to an urgent motion filed to the court late Monday. The more energy that Prepa sells, the more revenue it will collect that could go toward repaying debt. The creditors said that projected demand would provide another $1.5 billion of revenue that would available to pay bondholders. Prepa's recent restructuring plan would cut $10 billion of debt down to about $2.5 billion. “The revised load forecasts provide important revised financial information demonstrating that Prepa can afford to pay its creditors more than is proposed under the plan,” lawyers for the credit
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AGO
Earnings
- 5/7/24 - Beat
AGO
Sec Filings
- 5/10/24 - Form 4
- 5/10/24 - Form 4
- 5/9/24 - Form 144
- AGO's page on the SEC website