Puerto Rico creditors urge extension of fiscal plan deadline

Puerto Rico creditors urge extension of fiscal plan deadlineA group holding more than $ 10 billion of Puerto Rican debt wants the island’s federally appointed financial oversight board to postpone a Wednesday deadline to approve a fiscal turnaround plan for Puerto Rico, saying the U.S. territory’s creditors should have input on the plan.  A bondholder group led by OppenheimerFunds and Franklin Advisers, which hold debt across a wide swath of Puerto Rican credits, made the request to the board in a letter made public on Monday morning, ahead of the board’s scheduled public meeting in New York. “An extension would … allow Puerto Rico and the oversight board to work with Puerto Rico’s key stakeholders to develop a fiscal plan that makes sense to all the parties,” the group said.

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