Prepa Gets Forbearance Extension Through June 30 From Creditors
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Puerto Rico’s junk-rated power utility said it won an extension to June 30 on the forbearance agreement that has kept its negotiations with creditors out of court.
The accord between the Puerto Rico Electric Power Authority and debtholders, bond insurers and banks was set to expire Thursday at about midnight. This is the fifth extension since the group first signed the agreement in August.