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.
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.
In the 15 months it has been working with stateside firm AlixPartners, the Puerto Rico Electric Power Authority has accrued $162 million in annual benefits, plus another $150 million in one-time benefits through a comprehensive operational overhaul, Chief Restructuring Officer Lisa Donahue told board members Tuesday.
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