Creditors of Puerto Rico's PREPA offer additional financing-source
NEW YORK, March 26 (Reuters) - Some creditors in Puerto Rico's power authority PREPA have offered the utility additional financing to overhaul its operations in return for concessions such as using a drop in oil prices to pay off debt, a source close to one of the bondholders said on Thursday.
"Bondholders will provide new financing to PREPA and PREPA will use that to modernize," the source said, describing the proposal. "One of the levers we would be looking for PREPA to pull is to use some of the saving in fuel costs to help reduce its debt burden." (Reporting by Edward Krudy; editing by Megan Davies)
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