NEW YORK Aug 19 The new role of chief
restructuring officer at Puerto Rico's electric power authority
PREPA will include both financial and operational restructuring,
according to a document posted on the website of Puerto Rico's
Government Development Bank on Tuesday.
"The CRO shall work alongside PREPA's chief executive
officer (Executive Director) to develop, organize and manage a
financial and operational restructuring of PREPA on terms to be
approved by the board," the statement said.
PREPA must agree on a restructuring officer with bondholders
by Sept. 8, according to the forbearance agreement it signed
with creditors on Thursday.
(Reporting by Edward Krudy; Editing by Chizu Nomiyama)