Rio’s Power Utility Light Files for Bankruptcy Protection
- Holding filed request for protection totalling $2.23 billion
- More than one-quarter of the grid load is being lost to theft
This article is for subscribers only.
Rio de Janeiro’s electric utility filed for protection from creditors after warning that it was struggling to pay its debts without government authorization to increase tariffs. Its bonds and shares sank.
Light SA, as the holding company for Light is called, filed a request for protection from creditors of 11 billion reais ($2.23 billion) to a Rio de Janeiro court on Friday, according to a regulatory filing.