Puerto Rico bonds snap to 75 on revival plan

摘要

Heading into the fourth year of its court restructuring, Puerto rico has signed a deal ending a feud with general obligation bondholders to resolve US$35bn of debt and non-debt claims. The financial oversight board tasked with the Commonwealth's restructuring last week reached an agreement with certain bondholders on an enhanced framework for a plan of adjustment. If the plan holds, it will remove a major obstacle to the island emerging from court protection as soon as this year.