MBIA Extends Biggest Rally Since 2013 on Puerto Rico Debt Deal

  • Utility agreed with insurers and bondholders on restructuring
  • MBIA muni-bond insurance unit backs $1.4 billion of Prepa debt

Shares of MBIA Inc. extended their largest rally since 2013 after Puerto Rico’s electric utility reached an agreement with insurance companies and bondholders to restructure its $8.2 billion of debt.

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