New York, October 22, 2015 -- Puerto Rico Electric Power Authority's (PREPA; Caa3 negative) anticipated issuance of new securitization bonds would carry risks that are typical of utility cost recovery charge (UCRC) bonds that we rate, such as legislative risk, servicing risk, customer payment delay and default risk as well as event risk stemming from severe weather conditions, Moody's Investors Service says in a new report which outlines how those risks might present themselves in the specific circumstances of PREPA and Puerto Rico.
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