Puerto Rico Electric Power Authority Negotiates Reprieve From Creditors

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Prepa owes about $9 billion to bondholders, banks and others

Puerto Rico’s power authority negotiated another reprieve from creditors, giving the cash-strapped utility more time to work out a plan to restructure its finances.

The Puerto Rico Electric Power Authority, known as Prepa, said Wednesday that creditors—including bondholders and banks that lent the authority money to buy fuel—have agreed not to pursue remedies that could push the authority into default for another 15 days. Prepa was…

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