June 28, 2017 / 9:09 PM / a year ago

Puerto Rico oversight board says continuing talks with PREPA creditors

(Reuters) - Puerto Rico’s financial oversight board on Wednesday said it is still discussing a debt restructuring with creditors of the island’s power utility, PREPA, and could be persuaded to support a proposed deal it had previously rejected, with some changes.

A man walks past the headquarters of Puerto Rican power utility PREPA (also known as AEE) in San Juan, Puerto Rico, June 30, 2015. REUTERS/Alvin Baez-Hernandez

The board, in charge of managing Puerto Rico’s finances, had on Tuesday nixed an agreement between PREPA and its creditors to restructure some $9 billion in debt, saying the deal would not do enough to structurally reform PREPA.

Reporting by Nick Brown; Editing by Sandra Maler

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