30.06.2016 21:33:00
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Moody's: PROMESA provides groundwork for orderly Puerto Rico debt restructuring but won't stop July 1 defaults
New York, June 30, 2016 -- The enactment of a federal fiscal oversight board for the Commonwealth of Puerto Rico (Caa3 negative) is credit positive for bondholders because the legislation will prevent protracted litigation and improve bondholder recoveries, Moody's Investors Service says in "Puerto Rico (Commonwealth of): PROMESA Will Impose Legal Order, Improve Recovery Prospects."