Talks to restructure Puerto Rico power company debt fail

By DÁNICA COTO
Associated Press

HAVANA (AP) — Mediation talks to restructure more than $9 billion in debt held by Puerto Rico’s power company have failed, raising concerns about the future of the bankrupt government agency. A federal control board that oversees Puerto Rico’s finances said Saturday that the impasse with bondholders means it would resume litigation against them in an attempt to restructure the debt, warning that any cost associated with debt repayment would be passed along to consumers. Gov. Pedro Pierluisi said the mediation did not achieve the desired outcome. Creditors could not be immediately reached for comment.