PREPA board extends AlixPartners’ contract for $6.7M
August 16, 2016
The Puerto Rico Electric Power Authority announced Monday the extension of the AlixPartners’ contract to continue the ongoing progress on the comprehensive transformation and debt restructuring of the utility through Dec. 15, 2016, for $6.7 million in fees.
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PREPA reaches deal with creditors; S&P cuts rating
July 1, 2016
The Puerto Rico Electric Power Authority announced Thursday its intention to pay all principal and interest due on July 1, 2016 under its power revenue bonds in accordance with the terms of an agreement with creditors holding approximately 70 percent of the utility’s outstanding debt, company officials said.
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Moody’s: New surcharge ‘positive’ for PREPA creditors
June 28, 2016
Moody’s Investors Service said Monday the new surcharge on customers’ electricity bills approved last week by the Puerto Rico Energy Commission to be used to pay debt service on new securitization bonds to be issued as part of the Puerto Rico Electric Power Authority’s debt restructuring is positive for creditors.
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Private sector balks at PREPA’s planned rate hikes
May 27, 2016
Puerto Rico’s private sector, represented by more than 20 organizations, on Thursday banded together to reject the proposed energy rate increases unveiled by the Puerto Rico Electric Power Authority this week.
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García-Padilla meets with creditor advisors in NYC
May 11, 2016
Puerto Rico Gov. Alejandro García-Padilla met with a group of unidentified advisors to the Commonwealth’s creditors to communicate, first hand, the need for Puerto Rico reach a broad restructuring of its $70 billion public debt to sustainable levels, his office said Tuesday.
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PREPA will need 2 more weeks to complete rate case
April 27, 2016
The Puerto Rico Electric Power Authority has asked creditors for a two-week extension through May 13 to file its rate case before the Puerto Rico Energy Commission, which is a key element in the restructuring support agreement reached with creditors.
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Bankers Assoc. asks gov’t to uphold PREPA restructuring
April 14, 2016
The Puerto Rico Bankers Association said Wednesday the government’s decision to include Puerto Rico Electric Power Authority in the Puerto Rico Emergency Moratorium and Financial Rehabilitation Act could jeopardize the closing this year of the consensual restructuring support agreement.
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PREPA extends contract with AlixPartners for $9.1M
March 16, 2016
The Puerto Rico Electric Power Authority announced Tuesday it has extended its contract with AlixPartners through Aug. 15, 2016, as the utility seeks to implement its ongoing comprehensive financial restructuring and operational transformation.
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Aerostar makes $22.5M electricity payment to PREPA
February 26, 2016
Aerostar Airport Holdings, the operator of the Luis Muñoz Marín International Airport, settled a dispute it had with the Puerto Rico Electric Power Authority over past due electricity charges and made a $22.5 million payment, utility officials announced.
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Telecom Board shoots down PrepaNet in Liberty case
February 22, 2016
The Puerto Rico Telecommunications Regulatory Board on Friday shot down the Puerto Rico Electric Power Authority’s claims that the regulator lacks jurisdiction in a fight over rates and access to public utilities launched last year by Liberty Cablevision of Puerto Rico.
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Bankers Assoc. backs approval of PREPA overhaul bill
February 1, 2016
The Puerto Rico Bankers Association has called upon the legislature for the prompt approval of the Puerto Rico Electrical Power Authority Revitalization Act, which will enable the public corporation to complete the necessary restructuring process.
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PREPA, bondholders return to negotiating table
January 28, 2016
The Puerto Rico Electric Power Authority and its bondholder group announced this morning they have resumed talks, after walking away from the table nearly a week ago.
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U.S. House energy committee scrutinizes PREPA deal
January 13, 2016
WASHINGTON — A restructuring deal between the deeply indebted Puerto Rico Electric Power Authority and most of its creditors came under scrutiny during a Tuesday oversight hearing here by the House Subcommittee on Energy and Mineral Resources.
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PREPA overhaul bill ‘mortal blow’ for citizens, industry
January 11, 2016
A group of representatives for Puerto Rican consumers, businesses, industries, and workers warned Sunday that the legislative approval of the Puerto Rico Electric Power Authority Revitalization Act will deliver “a mortal blow” to the island’s already critical economic situation.
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PREPA, creditors agree to financial restructuring plan
December 24, 2015
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.
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