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Home > Investor Resources > Tax-Exempt Securities by Issuer > Puerto Rico Electric Power Authority

Puerto Rico Electric Power Authority (PREPA)

Puerto Rico Electric Power Authority

Website: http://www.prepa.com

Credit Ratings

Moody's
Standard & Poor's
Fitch
Power Revenue Bonds
Caa3
CCC

CC



Credit Rating Reports on PREPA


Go to Commonwealth section to access other credit rating reports affecting PREPA debt
   
Moody's Investors Service - September 17, 2014
Standard & Poor's - Summary - July 31, 2014
Standard & Poor's - July 31, 2014
Standard & Poor's - Summary - July 9, 2014
Standard & Poor's - July 9, 2014
Standard & Poor's - June 27, 2014
Fitch Ratings - June 26, 2014
 
View prior reports from Credit Rating Agencies
 

Security

Revenue bonds are payable from the Authority's net revenues that are derived from charges for electric services. The bonds are protected by substantial debt service reserves. The Authority may raise rates as necessary to assure adequate coverage of debt service without the approval of any regulatory agency.

Functions

PREPA owns and operates electric generating and distribution facilities serving all of Puerto Rico, supplying 99 percent of the power consumed on the Island. Dependable generating capacity aggregates approximately 4.4 million kilowatts, and adequately supplies the highly industrialized economy of Puerto Rico.

Trustee Under the Trust Agreement
Power Revenue Bonds
US Bank Trust National Association
New York, N.Y.

Consulting Engineers:
Washington Group International

Financial Statements Audited by:
Ernst & Young

 

Financial Statements

June 30, 2013
 

Official Statements

Puerto Rico Electric Power Authority - $673,145,000
Power Revenue Bonds, Series 2013A

August 15, 2013

Puerto Rico Electric Power Authority - $650,000,000
Power Revenue Bonds, Series 2012A

Power Revenue Refunding Bonds, Series 2012B
April 12, 2012

Puerto Rico Electric Power Authority - $355,730,000
Power Revenue Bonds, Series EEE

(Issuer Subsidy Build America Bonds)
December 24, 2010

Puerto Rico Electric Power Authority - $218,225,000
Power Revenue Refunding Bonds, Series DDD
September 29, 2010
Puerto Rico Electric Power Authority - $316,920,000
Power Revenue Bonds, Series CCC
May 20, 2010
Puerto Rico Electric Power Authority - $76,800,000
Power Revenue Bonds, Series BBB
May 20, 2010
Puerto Rico Electric Power Authority
Power Revenue Bonds, Series ZZ - $631,160,000
Supplement for Power Revenue Bonds, Series AAA - $363,075,000
April 22, 2010
Puerto Rico Electric Power Authority - $631,160,000
Power Revenue Bonds, Series ZZ
April 22, 2010
Puerto Rico Electric Power Authority - $320,175,000
Power Revenue Bonds, Series YY
April 22, 2010
Puerto Rico Electric Power Authority - $822,210,000
Power Revenue Bonds, Series XX
March 26, 2010
Puerto Rico Electric Power Authority - $697,345,000
Power Revenue Bonds, Series WW
June 18, 2008

Puerto Rico Electric Power Authority - $557,410,000
Power Revenue Refunding Bonds, Series VV

May 16, 2007

Puerto Rico Electric Power Authority - $1,943,565,000
$643,530,000 Power Revenue Bonds, Series TT
$1,300,035,000 Power Revenue Refunding Bonds, Series UU
April 19, 2007
Puerto Rico Electric Power Authority - $993,450,000
$509,520,000 Power Revenue Bonds, Series RR
$483,930,000 Power Revenue Refunding Bonds, Series SS
March 24, 2005

Supplement to Official Statement

Puerto Rico Electric Power Authority - $95,270,000
Power Revenue Refunding Bonds, Series QQ

(Forward Delivery)
March 24, 2005

Puerto Rico Electric Power Authority - $319,970,000
$136,105,000 Power Revenue Refunding Bonds, Series OO
$88,595,000 Power Revenue Refunding Bonds, Series PP
$95,270,000 Power Revenue Refunding Bonds, Series QQ (Forward Delivery)
August 12, 2004
Puerto Rico Electric Power Authority - $517,305,000
Puerto Rico Electric Power Authority
Power Revenue Bonds, Series NN
August 8, 2003
Puerto Rico Electric Power Authority - $105,055,000
Puerto Rico Electric Power Authority
Power Revenue Refunding Bonds, Series MM
September 20, 2002
Puerto Rico Electric Power Authority - $499,910,000
$401,785,000 Power Revenue Refunding Bonds, Series KK
$98,125,000 Power Revenue Bonds, Series LL
June 13, 2002

Supplement, dated December 19, 2001, to Official Statement, dated December 13, 2001,  relating to Puerto Rico Electric Power Authority - $720,370,000
$515,305,000 Power Revenue Bonds, Series II
$205,065,000 Power Revenue Refunding Bonds, Series JJ

December 19, 2001

Puerto Rico Electric Power Authority - $720,370,000
$515,305,000 Power Revenue Bonds, Series II
$205,065,000 Power Revenue Refunding Bonds, Series JJ

December 13, 2001

Puerto Rico Electric Power Authority - $565,590,000
$464,840,000 Power Revenue Bonds, Series AA
$100,750,000 Power Revenue Refunding Bonds, Series BB

May 8, 1997

 

August 14, 2014 PREPA Forbearance Agreements

Forbearance Agreement between PREPA and Citibank, N.A.
Forbearance and Amendment Agreement between PREPA and Scotiabank de Puerto Rico
Forbearance Agreement between PREPA and Government Development Bank for Puerto Rico
Forbearance Agreement between PREPA, and National Public Finance Guarantee Corporation, Assured Guaranty Corp., Assured Guaranty Municipal Corp., Syncora Guarantee Inc., and Ad Hoc Group of PREPA Bondholders
 

Trust Agreement

Trust Agreement by and between Puerto Rico Water Resources Authority and First National Citi Bank as Trustee, dated January 1, 1974
 
 

GDB Contact
Jesús M. García-Rivera
Vice President

Director of Revenue Obligations Financing
Revenue Obligations Department
Tel. (787) 722-2525 x-15250
Fax (787) 728-6835
Email: Jesus.M.Garcia@bgf.gobierno.pr

PREPA Contact
Luis Figueroa Báez
Chief Financial Officer
Puerto Rico Electric Power Authority
PO Box 364267, San Juan, PR 00936-4267
Tel. (787) 521-4506/4502
Fax (787) 521-4608
Email: luis-figueroa@aeepr.com
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