Legal push to cut Puerto Rico power company debt delayed
By DÁNICA COTO
Associated Press
SAN JUAN, Puerto Rico (AP) — Efforts to restructure some $9 billion in debt held by Puerto Rico’s power company have hit a new snag following multiple failed attempts to end its bankruptcy. Officials had until Thursday to submit a new proposal on how to cut the Electric Power Authority’s debt _ the largest held by any government agency _ but a mediation team overseeing negotiations between Puerto Rico’s government and bondholders requested a one-week extension. A federal judge overseeing the case has yet to issue a ruling on the request.
