Puerto Rico PREPA

Puerto Rico’s PREPA Catches A Break To Keep The Lights On

The Puerto Rico Electric Power Authority got a breather on Thursday in the form of an extension of vital lines of credit which it uses to buy oil. The cash-strapped utility also agreed with bondholders to develop a restructuring plan to revive it.

Earlier PREPA was facing a deadline on Thursday to extend its lines of credit with banks or a face a possible restructuring of about $9 billion in total debt.
Puerto . . .

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