While the Company continues to believe that PREPA’s failure to apply its pledged revenues to the payment of its revenue bonds over the past three years is inconsistent with the Special Revenues Provisions and violates the
“We urge the Oversight Board and PREPA to take this opportunity to work collaboratively with creditors, as we did previously, to produce a comprehensive reconstruction plan that ensures power is restored in
Under applicable law, the Company is permitted to refile the lawsuit. Should PREPA fail to resume timely payment of its bonds, in accordance with the terms of the Special Revenues Provisions, after restoration of the electric system, the Company will consider refiling this lawsuit at an appropriate time.
Cautionary Statement Regarding Forward-Looking Statements
Any forward-looking statements made in this press release reflect Assured Guaranty’s current views with respect to future events and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. These risks and uncertainties include, but are not limited to, those resulting from further adverse developments in
Senior Managing Director, Investor Relations and Corporate Communications
Vice President, Corporate Communications