Puerto Rico to meet with creditors Monday, not looking to cut principal
NEW YORK, July 7 (Reuters) - Puerto Rico is not intending to cut principal payments to bondholders but to renegotiate debt terms, and officials are set to meet creditors on Monday at the offices of Citi, the head of the island's Government Development Bank Melba Acosta told reporters on Tuesday.
The meeting with creditors would be the first official meeting since Puerto Rico's Governor Alejandro Garcia Padilla told holders of its $72 billion debt that he wants to restructure debt and postpone bond payments.
(Reporting by a contributor in Puerto Rico; writing by Megan Davies; Editing by Cynthia Osterman)
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