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Monday, November 17, 2014

Puerto Rico's PREPA urged to improve collections -report, (NYSE: FCN)

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.

FTI Consulting, Inc. (FTI Consulting) is a global business advisory firm. Shares of FCN fell by 0.88% or $-0.36/share to $40.50. In the past year, the shares have traded as low as $28.23 and as high as $46.73. On average, 286335 shares of FCN exchange hands on a given day and today's volume is recorded at 32317.