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.