January 23, 2018 / 5:47 PM / in 5 months

BRIEF-Moody's Issues Statement Regarding Puerto Rico's Move To Privatize PREPA

Jan 23 (Reuters) - Moody’s:

* MOODY’S ISSUES STATEMENT REGARDING PUERTO RICO’S MOVE TO PRIVATIZE PREPA

* MOODY’S SAYS PRIVATIZATION OF PREPA ITSELF IS POSITIVE BECAUSE IT IS ANOTHER SOURCE OF CAPITAL TO HELP SOLVE PREPA’S FISCAL PROBLEMS

* MOODY’S SAYS THERE ARE STILL CHALLENGES REGARDING PREPA PRIVATIZATION, INCLUDING NEGOTIATING A PRICE IN AN ENVIRONMENT OF DECLINING PUERTO RICO POPULATION

* MOODY’S SAYS 18-MONTH TIMELINE (FOR PRIVATIZATION PROCESS OF PREPA) APPEARS “QUITE AGGRESSIVE”

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