The Detroit Industry mural of the Mexican painter Diego Rivera rises magnificent, grandiose, at the atrium of the Detroit Institute of Arts (DIA).
Following the Puerto Rico government’s confirmation Tuesday that negotiations with Rico Sales Tax Financing Corporation (known as COFINA) and General Obligation bondholders had broken off, both creditor groups went public to defend their positions on the ongoing talks.
The Puerto Rico Electric Power Authority announced early Thursday that it has reached an agreement with creditors holding approximately 70 percent of its financial debt.
The Puerto Rico Electric Power Authority announced Monday it has extended its contract with AlixPartners through March 15, 2016, as the utility continues negotiation discussions with creditors and focuses on implementing a comprehensive transformation.
Puerto Rico House Speaker Jaime Perelló said Monday the island’s “only option” regarding its $73 billion debt is continue moving on the path of negotiating with creditors.
Following almost two years of tough negotiations that included a lawsuit in court and major employee protests, the management at Claro de Puerto Rico and the Independent Telephone Workers Union, known as UIET in Spanish, signed a three-year collective bargaining agreement on Jan. 30.
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