Bondholder group says PREPA's criticisms fundamentally flawed
NEW YORK, April 24 (Reuters) - A group of bondholders in Puerto Rico's Electric Power Authority, PREPA, said the utility's criticisms of their $2 billion restructuring plan were flawed, according to a statement released by the bondholders on Friday.
"While we have had limited time to review PREPA`s critiques, we believe that a number of the criticisms are based on fundamentally flawed analysis or a misunderstanding of our proposal," said Stephen Spencer of Houlihan Lokey, the so-called Ad Hoc Group's financial advisor.
(Reporting by Edward Krudy)
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