Puerto Rico Electric bondholders, fuel creditors extend forbearances

By Caroline Salls

Pittsburgh, Oct. 2 – Puerto Rico Electric Power Authority said an informal group of bondholders and the authority’s fuel line creditors have agreed to extend their forbearance agreements until Oct. 15.

Although monoline bond insurers are not part of the extension, the authority said it is in continuing discussions with those insurers and other interested parties.

As previously reported, the authority has been successful in reaching restructuring agreements in principle with the bondholder group and the fuel line creditors, and it is working with the bond insurers to reach an agreement.

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