Bonds

Virgin Islands’ WAPA getting new leadership

The financially troubled U.S. Virgin Islands Water and Power Authority is getting new leadership.

The WAPA Governing Board has named Noel Hodge, currently chief operating officer of the water system, to serve as WAPA interim executive director.

Lawrence Kupfer ended his role as executive director of WAPA on Monday or Tuesday, according to the WAPA Governing Board. Kupfer led WAPA for three years.

The U.S. Virgin Islands Water and Power Authority is getting a new executive director.

Bloomberg News

Kupfer was unpopular on the islands. However, Board Chairman Anthony Thomas said Kupfer had elected to pursue other endeavors and the board thanks him “immensely for his contributions to WAPA and the Virgin Islands.”

Clinton Hedrington, Jr., current COO of the Electric System,is also retiring.

“The governing board will continue efforts toward identifying permanent employees to fill the leadership roles,” Thomas said.

WAPA’s most senior electrical system bonds are rated Caa2 by Moody’s Investors Service and CCC by Fitch Ratings.

Articles You May Like

New York City Sellers: Should You List This Summer?
Lagarde hardens ECB’s message on fighting inflation
Florida Estate With A Putting Green Hits The Market For $16.35 Million
Texas Housing Market Report Halfway Through 2022
New York cannabis investment fund focuses on equity