BRIEF-Moody's says Puerto Rico's decision to invoke Title III under PROMESA a positive step for bondholders

May 3 Moody's:

* Says Puerto Rico's decision to invoke Title III under PROMESA and initiate court proceeding to restructure debt marks positive step for bondholders overall

* Says court proceeding will be orderly process that should be "better for creditors in aggregate than a chaotic and uncertain period"

BRIEF-Moody's says Puerto Rico's decision to invoke Title III under PROMESA a positive step for bondholders