SAN JUAN, Puerto Rico – A federal judge has approved a $300 million loan for Puerto Rico's power company that officials say will help keep it operating until late March.
Monday's ruling comes just days after the judge had rejected an initial $1 billion loan request made by a federal control board overseeing the U.S. territory's finances. The judge had said officials did not provide sufficient evidence proving Puerto Rico's Electric Power Authority needed the money.
Neither the board nor government officials immediately responded to a request for comment.
The power company is $9 billion in debt, and the board has warned it could see a $1.2 billion loss in revenue in the first six months after Hurricane Maria.
Nearly 250,000 customers remain without power more than five months after the Category 4 storm.