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Puerto Rico's House approves bill key for utility PREPA deal

SAN JUAN, Feb 15 (Reuters) - Puerto Rico’s House of Representatives on Monday approved a bill aimed at overhauling the island’s troubled power utility PREPA, pushing the agency a step closer to finalizing a deal with creditors to restructure more than $8 billion debt a day before a key deadline, according to a webcast of the vote.

Fixing PREPA’s debt is seen as an important step in resolving an overall $70 billion debt load in Puerto Rico, and the utility has struck agreements with creditors on a debt exchange in which bondholders would accept 15 percent cuts to repayments. (Reporting by Nick Brown; writing by Megan Davies; Editing by Dan Grebler)

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