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Legal push to cut Puerto Rico power company debt delayed

KTVZ

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.

Article Topic Follows: AP National Business

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Associated Press

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