A federal judge approved an emergency $300 million loan that will keep Puerto Rico’s troubled electric utility in operation, averting a threat of more power outages at a time when the island is trying to recover from last summer’s devastating hurricanes. Judge Laura Taylor Swain of U.S. District Court in New York on Monday signed off on the loan from the island’s central government. Her decision comes days after she rejected the funding for the utility, known as Prepa, saying the cash-strapped power utility hadn’t looked hard...

Source: Wall Street Journal February 20, 2018 00:11 UTC