Data released by the Jamaica Public Service indicate that its debt load increased while its profits decreased during the third quarter, which ended on September 30 this year.
This is particularly relevant given the government's decision to lend the company $150 million of the $350 million it needs to borrow in order to fully rehabilitate the grid in the wake of devastation caused by Hurricane Melissa.
The company was carrying a long-term loan of US$273.4 million on its books during the third quarter of this year, compared with US$233.9 million during the same period of the previous year.
At the same time, customer deposits jumped to US$32.3 million from US$21.4 million.
The light and power company was already carrying total liabilities of US$1.1 billion during the period which ended on September 30 this year.
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