March 30, 2015

PREPA Announces Extension of Forbearance Agreements with

Creditors
San Juan, PR The Puerto Rico Electric Power Authority (PREPA)
announced today that PREPA and its creditors have agreed to extend
their previously negotiated forbearance agreements for 15 days.
The parties agree that it is best to continue the positive dialogue
toward creating a workable solution for the transformation of PREPA for
the benefit of all stakeholders, including its creditors, said Lisa
Donahue, Chief Restructuring Officer of PREPA, All parties believe
advances have been made and there is merit to continue conversations
with our creditors to find feasible solutions that will transform PREPA into
a modern and sustainable utility.
The creditors have agreed not to take any enforcement actions against
the utility while the forbearance agreements remain in effect.
In addition to reviewing and assessing the creditor restructuring
proposal, PREPA will continue developing initiatives to improve its
operations for the benefit of its stakeholders, which will support the
transformation of the public corporation into a self-sustaining power
utility. Progress has been made across various divisions of the
organization to maximize the turnaround efforts of PREPAs
transformation.
We fully expect PREPA to successfully restructure and optimize its
operations through this process. Our team will continue working with all
of our stakeholders and expect that working together we will ultimately
complete the restructuring satisfactorily, said Juan F. Alicea Flores,
Executive Director of PREPA.
###

APARTADO 364267 SAN JUAN, PUERTO RICO 00936-4267 / TELEFONO: (787) 521-4696 FAX: (787) 5212337
Somos un patrono con igualdad de oportunidades en el empleo y no discriminamos por razn de raza, color, sexo, edad,
origen social o nacional, condicin social, afiliacin poltica, ideas polticas o religiosas; por ser vctima o ser percibida(o)
como vctima de violencia domstica, agresin sexual o acecho, sin importar estado civil, orientacin sexual, identidad de
gnero o estatus migratorio; por impedimento fsico, mental o ambos, por condicin de veterano(a) o por informacin
gentica."