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5 months ago
BRIEF-Moody's says Puerto Rico's fiscal plan anticipates sharper economic decline, a negative for bondholders
March 22, 2017 / 5:47 PM / 5 months ago

BRIEF-Moody's says Puerto Rico's fiscal plan anticipates sharper economic decline, a negative for bondholders

March 22 (Reuters) - Moody's:

* Moody's says Puerto Rico's fiscal plan anticipates sharper economic decline, a negative for bondholders

* Moody's on Puerto Rico - expect about $52 billion of debt to be included in a restructuring achieved by either creditor negotiations or a judicial decision

* Moody's says in terms of financial governance, approval of Puerto Rico's fiscal plan is a positive event

* Moody's on Puerto Rico - repeated annual economic output declines indicated in plan would diminish Puerto Rico's tax revenues available for debt service

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