November 17, 2014 / 3:31 PM / 5 years ago

Puerto Rico's PREPA urged to improve collections -report

NEW YORK, Nov 17 (Reuters) - 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

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