Tuesday, November 18, 2014

Puerto Rico's PREPA urged to improve collections -report

The Puerto Rico Electric Power Authority (PREPA) should outsource collections of inactive accounts, overhaul its customer collection practices and cutoff service to public corporations which are not paying, according to a report prepared by FTI consulting released on Monday.

The report was the first of three studies commissioned as part as a restructuring of PREPA's business that was agreed upon in a forbearance agreement with bondholders. The restructuring could lead to a write down to PREPA's over $9 billion in debt early next year.

(Reporting by Megan Davies, Lisa Lambert and Ed Krudy Editing by W Simon)

Puerto Rico's PREPA urged to improve collections -report

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