Creditors give Puerto Rico utility until June 18 to negotiate turnaround plan :: La Prensa :: America in English

San Juan, Jun 5 (EFE).- Creditors of debt-ridden Puerto Rican power utility Autoridad de Energia Electrica have given the company just over two weeks to negotiate a turnaround plan that guarantees its survival and the recovery of their investment.

“We’re pleased that the creditors granted an extension to the existing forbearance agreements,” Lisa Donahue, the chief restructuring officer of AEE, which is also known as The Puerto Rico Electric Power Authority, or PREPA, was quoted as saying in a brief news release Friday.

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