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Report: Puerto Rico's PREPA likely to get credit reprieve

  • Puerto Rico's electric power authority - PREPA - faces a Thursday deadline on loans to Citigroup and Scotiabank, but is in talks and likely to receive a credit line extension necessary to keep buying oil, reports Reuters.
  • The loans total $671M and their maturity could be extended to next March, according to a source. Another option would be another short-term extension similar to a recent two-week reprieve.
  • Watching with interest: MIBA (MBI +1.9%) and Assured Guaranty (AGO +1.3%)
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