Jan. 29, 2017 9:09 AM ET | By: Yoel Minkoff, SA News Editor
After selecting Citigroup (NYSE:C) as its financial adviser, Puerto Rico's federal oversight board has voted to give the commonwealth more time to submit a fiscal turnaround plan and restructure $70B in debt without fear of lawsuits.
A so-called stay on litigation over missed payments will be moved to May 1 from Feb. 15, while a deadline for a fiscal blueprint will be extended to Feb. 28 from Jan. 31.
Source: Seeking Alpha