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BRIEF-Moody's publishes credit update on PREPA in light of recent developments
July 12, 2017 / 5:06 PM / 5 months ago

BRIEF-Moody's publishes credit update on PREPA in light of recent developments

July 12 (Reuters) - Moody’s

* Moody’s publishes credit update on Puerto Rico Electric Power Authority in light of the recent developments

* Says Ca rating reflects view on recovery prospects for creditors after prepa’s decision to commence bankruptcy proceedings under title III of PROMESA

* Says negative outlook means there continues to be downward pressure on rating if we believe the prospects for bondholder recovery worsen

* Says PREPA’s Ca rating recognizes increased uncertainty that now exists regarding outcome and timing of future debt restructuring plan for PREPA Source text for Eikon:

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