Advertisements

Gerardo Portela Franco, Executive Director for the Fiscal Agency and Financial Advisory Authority (“AAFAF”, per its Spanish acronym), gaved the following statement:

Gerardo-Portela

“The Government of Puerto Rico and the Puerto Rico Fiscal Agency and Financial Advisory Authority (the “Government”) are committed in their good faith efforts to reach a consensual resolution with the Government’s creditors within the parameters of the Fiscal Plan for Puerto Rico that was certified by the Financial Oversight and Management Board for Puerto Rico (the “FOMB”) on March 13, 2017. The Government has had, and continues to have, discussions with its creditors including, but not limited to, in connection with mediation with Judge Allan Gropper (Retired). The Government shared the attached proposal with certain of its creditor groups. This proposal is intended to maximize returns to its creditors in a manner consistent with Puerto Rico’s goals for economic growth equitably. The Government anticipates the discussions to continue over the coming weeks.”

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: