The Idaho Public Utilities Commission on Wednesday issued am order (http://bit.ly/Z3DYvt)...
The Idaho Public Utilities Commission on Wednesday issued am order (http://bit.ly/Z3DYvt) approving loans and agreements for the $30-million sale of certain FairPoint properties to Blackfoot Telecom Group, the sale of which closed at the start of February (CD Feb 4…
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p13). Blackfoot acquired several thousand customers through the purchased FairPoint properties, located in eastern Idaho. The order approved both “the structure of the financing provided in the Loan Documents” and “all the terms and conditions of the Loan Documents” as being in compliance with PUC rules. CoBank loaned Blackfoot money for the sale, the PUC said. It described the loan agreements, which place FairPoint-owned Fremont as co-borrower rather than guarantor, with the Fremont assets sold to Blackfoot pledged as collateral. Blackfoot and the PUC arranged a memorandum of understanding “addressing regulatory items associated with the stock purchase and ongoing operation of Fremont to protect Fremont customers,” the PUC said. “Ratemaking issues, if any arise, will be addressed in a future proceeding."