Gainesville Regional Utilities debt rating takes a dip Ruelle Fludd
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GAINESVILLE, Fla. (WCJB) -Moving down from AA- to just an A grade under S&P Global Ratings does come at a cost for Gainesville Regional Utilities. An estimate adds more than $20 million to interest costs on its current debt agreements.
“You can’t have a strong city without a strong utility here,” said GRU General Manager Ed Bielarski. The rating downgrade, according to Bielarski, is going to come at a cost for GRU customers.
“It’s about putting a plan together and not really overreacting to it but being very aware of the consequences of it,” added Bielarski. “And so you can’t solve a problem unless you fully recognize what that problem is and I think we’re fully cognizant of what that problem is right now.”
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