Utilities Down As Treasury Rates Rise - Utilities Roundup

Shares of power-plant operators declined as Treasury rates ticked up. Puerto Rico's decision to cancel a controversial $300 million power grid construction deal will remove many of the crews working to repair the U.S. territory's electrical grid, devastated in a hurricane. Four Florida-based utilities working as subcontractors to Whitefish Energy Holdings have elected to leave Puerto Rico rather than continue under new agreements with the public power company there, according to a Whitefish spokesman. India's Reliance Industries is planning to sell dollar-denominated bonds, which could meet with a favorable reception after Moody's upgraded the nation's debt.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

November 20, 2017 16:39 ET (21:39 GMT)