GPA's $350M debt will be restructured - KUAM.com-KUAM News: On Air. Online. On Demand.

GPA's $350M debt will be restructured

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by Mindy Aguon

Guam - The Guam Power Authority will be headed to the bond market next week armed with investment grade ratings from Moody's, Fitch and Standard & Poor's.  Depending on the markets, the authority hopes to restructure $350 million to -$360 million of its debt.  The benefit to ratepayers would be $9 million in relief to ratepayers over the next six years and a roll back of the May rate increase. 

The Public Utilities Commission approved the restructuring request but did impose some parameters for GPA that include meeting a minimum 2% net savings overall.

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