GEDA approves resolution for GWA bond - KUAM.com-KUAM News: On Air. Online. On Demand.

GEDA approves resolution for GWA bond

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by Ken Quintanilla

Guam - Following a meeting with ratings agencies in San Francisco last week, the Guam Economic Development Authority approved a resolution this afternoon to help the Guam Waterworks Authority move forward with its half a billion dollar bond to fund capital improvement projects.

GEDA's public finance manager Lester Carlson explains, saying, "The resolution that we have today falls in the heels of last night's CCU resolution that approves the issuance of another $195 million of bonds to be able to address the near term goals of the court and agreed to by Government of Guam."

Carlson adds the resolution is conditioned upon whether or not lawmakers take action on Bill 181 during next week's session and the subsequent approval of the Public Utilities Commission. He adds GEDA and GWA received positive feedback from its ratings presentations with Fitch, Standard & Poors and Moody's were positive.

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