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.