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2015-12-19 — chicagotribune.com
Puerto Rico's electric utility reached a tentative agreement with insurance companies MBIA Inc. and Assured Guaranty Ltd., along with some bondholders, to restructure the utility's $8.2 billion of debt, according to two people with knowledge of the discussions.
The accord sets into motion what would be the largest-ever restructuring in the $3.7 trillion municipal-bond market and potentially averts a default on $196 million of interest due Jan. 1... It took more than a year of fitful negotiations for the agency known as Prepa to strike a deal with bondholders, who in November agreed to take losses of 15 percent. source article | permalink | discuss | subscribe by: | RSS | email Comments: Be the first to add a comment add a comment | go to forum thread Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately. |