Puerto Rico Power Utility Gets More Time for Debt Talks

Puerto Rico’s Electric Power Authority and its creditors have through Sept. 30 to negotiate a deal to reduce about $9 billion of debt as the judge overseeing the bankruptcy case continues to give the parties more time to reach a restructuring plan.

Prepa, as the utility’s known, and bondholders are set to meet on Sept. 13 for an in-person mediation session, according to court filings. US District Court Judge Laura Taylor Swain gave the parties until Sept. 16 -- a one-week extension -- to strike a debt-cutting deal and agreed to push out that deadline to Sept. 30, without court ...