Fitch Says Possibility of Additional Oversight on WAPA Board Creates Doubt That Keeps Utility’s Bond Rate Downgraded
U.S. VIRGIN ISLANDS — Following 34th Legislature’s approval of Bill No. 34-0021, which sought to assign a “turnaround” company to oversee the V.I. Water and Power Authority Board, the Fitch Ratings service on Monday issued a statement that the bond market does not want to upgrade WAPA’s rating because of the possibility of additional oversight. […]