March 1 Puerto Rico projects having about $1.2
billion a year available for debt service, more than an earlier
projection by the federally appointed board overseeing its
finances, according to a fiscal turnarond plan released by the
U.S. territory on Wednesday.
The island sees higher baseline revenues and lower expenses
than the board's projection, though it falls short of some
spending cuts recommended by the board, such as on healthcare
funding. The plan cites the possibility of a debt restructuring
that could include new tradeable securities or a structure that
ties creditor recoveries to economic growth.
(Reporting by Nick Brown; Editing by Chizu Nomiyama)