Watts Bar Utility District closes on $6.855 million loan

Watts Bar Utility District of Roane, Rhea and Meigs counties has closed on a $6.855 million loan through the Tennessee Utility Assistance, LLC municipal finance program.

The loan will be used to refinance outstanding bonds for significant interest cost savings of more than $726,000.

Standard and Poor’s, one of the major credit rating agencies, assigned its “A+” rating to the Series 2013 Bonds.

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