PREPA

AcronymDefinition
PREPAPuerto Rico Electric Power Authority
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AES PR's rating reflects the rating of PREPA, which Fitch downgraded to 'D' on July 6, 2017, after PREPA commenced the insolvency proceedings under Title III of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) on July 2, 2017 and failed to pay principal and interest due on its revenue bonds on July 3, 2017.
PREPA argued that its aforementioned claim for the electricity provided to PMC was entitled to Section 503(b)(9) priority treatment because the electricity was a "good" within the UCC's definition of that term.
Setting up a Power Purchase Agreement (PPA) where PREPA would agree to buy back the power at a higher rate would be much more beneficial.
PREPA also wanted to view normal video of the outside of each chimney stack simultaneously with the ThermaScope thermal image data in order to monitor smoke escaping from the boilers so a 'picture in picture' view was also set up.
In the past, Cobra relied on third-party contractors, hired by PREPA, and the U.
M2 EQUITYBITES-March 14, 2017-First BanCorp sells PREPA loan
Under the contract extension agreement, Lisa Donahue and her team will continue to assist PREPA in its transformation and Donahue will remain in her role as PREPA's Chief Restructuring Officer.
Stable Financial Metrics Through Recession: PREPA is the sole electricity provider to almost 1.
PREPA has only been able to bill up to 40 percent of its customers, according to the AP.
Under the terms of the amended contract, the number of skilled workers requested by PREPA and provided by Cobra
Since the request for mutual assistance was first received from PREPA in early November, EEI and its member companies, including Ameren, have been working in partnership with the American Public Power Association and the National Rural Electric Cooperative Association to supply technical expertise, materials, equipment, and resources to the island.