Utilities, Inc. Closes on a New $80 Million Syndicated Credit Facility

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Utilities, Inc. (UI), a national water and wastewater service corporation, is pleased to announce that it has closed on a new $80 million syndicated credit facility lead by JPMorgan/Chase. This facility, which will be in place for the next twelve months, will allow UI to refinance its current short term borrowings and have access to credit so it can strategically deploy capital to meet the needs of its customers.

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Given the currently unsettled state of the credit markets, the successful closing of this facility is surely a vote of confidence by our financial partners in our business plan and capabilities

"We are excited and encouraged to have a new lender, First Merit, as part of the facility. They will join CoBank, with whom we have worked previously, as well as JPM/Chase," said Steve Lubertozzi, Chief Financial Officer. Mr. Lubertozzi added: "In this challenging financial environment we were pleased with the level of lender participation."

"Given the currently unsettled state of the credit markets, the successful closing of this facility is surely a vote of confidence by our financial partners in our business plan and capabilities," said Larry Schumacher, President & C.E.O. of Utilities, Inc.

About Utilities, Inc.:

Utilities, Inc. was formed in 1965 to provide developers with an alternative method to obtain water and wastewater utility service. Today, Utilities, Inc., one of the largest privately owned water and wastewater utilities in the United States, is a portfolio company of Highstar Capital, and through its approximately 90 subsidiaries, operates over 500 utility systems in 15 states and serves over 300,000 customers.

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Steven Lubertozzi
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