Puerto Rico's PREPA extends creditor agreement, negotiates with insurers

October 1, 2015 11:02 PM

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NEW YORK Oct 1 Puerto Rico's electric power authority, PREPA, has extended by two weeks an agreement with its bondholders and lenders that was to expire at the close of Thursday, while it is continuing to try to negotiate a deal with its bond insurers, the utility said on Thursday.

Reducing PREPA's $9 billion in debt has been seen as a critical test for the U.S. territory as it tries to forge a broader restructuring of $72 billion in total debt.

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