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3 months ago
BRIEF-Moody's says Puerto Rico's decision to invoke Title III under PROMESA a positive step for bondholders
May 3, 2017 / 4:27 PM / 3 months ago

BRIEF-Moody's says Puerto Rico's decision to invoke Title III under PROMESA a positive step for bondholders

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May 3 (Reuters) - Moody's:

* Says Puerto Rico's decision to invoke Title III under PROMESA and initiate court proceeding to restructure debt marks positive step for bondholders overall

* Says court proceeding will be orderly process that should be "better for creditors in aggregate than a chaotic and uncertain period"

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