Puerto Rico Utility Official Expects Extension to Creditor Pact
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Puerto Rico’s power utility is expected to extend an agreement with its creditors that’s set to expire Thursday evening, an agency official said.
Lisa Donahue, the utility’s chief restructuring officer, said in a speech Thursday in San Juan that the contract will probably continue. The agreement has prevented the utility from defaulting on its debt. Bondholders have offered a 30-day extension, according to a person with knowledge of the situation.