UPDATE 2-Puerto Rico proposes debt cut for creditors, slammed by insurer
February 01, 2016 at 10:23 AM EST
SAN JUAN/NEW YORK, Feb 1 (Reuters) - Puerto Rico has offered a huge haircut to creditors that would reduce its debt by about $23 billion in the opening salvo to resolve its crippling $70 billion debt crisis, but the proposal was immediately slammed by one bond insurer.