I got the surprise of my life when people were complaining about a DR editorial. You mean the BYH column is not the...

Moody's boosts GUC credit rating In advance of bond sale


Tony Cannon


Monday, June 10, 2019

Moody's Investor Services has upgraded Greenville Utilities Commission's credit rating to 'Aa1' with a stable outlook in advance of upcoming bond sales.

Fellow global rating agency Fitch Ratings affirmed GUC's credit rating of 'AA-'. Both ratings are considered "High Grade" and should help GUC at the time of the bond sales.

"Boosting or maintaining our credit rating is important because it allows us to achieve lower interest rates when we sell bonds to make needed improvements and upgrades to our infrastructure," said GUC General Manager/CEO Tony Cannon. "Those lower rates mean we, and in the end our customers, pay less on the money we borrow. That is critical for us to be able to meet our mission of safely providing reliable utility solutions at the lowest reasonable cost."

Moody's upgrade reflects their findings of the commission's "continued sound operating results and conservative management."

The high ratings also reflect GUC's comprehensive long-range financial planning, moderate but manageable debt burden, and stable service area. Additional key factors are conservative management, diverse combined utility revenue streams, regional service provisions, and the elimination of generation risk following the sale of the system's stake in NCEMPA generation ownership assets in 2015.

The ability of the GUC Board to change rates with a 10-day notice was noted by Fitch as providing the Commission with "strong rate flexibility," another significant component in receiving the high ratings from the credit rating agencies.

Earlier this month, a team from GUC visited with Moody's and Fitch in order to receive a rating for the upcoming bond sale. These visits are routinely conducted to update each agency on GUC's leadership, strategic vision, status of operations, five-year financial forecast, financial viability, regional economy and the utility's ability to meet customers' needs.

GUC is scheduled to sell bonds to help finance upcoming system improvements included in the Capital Improvements Plan.


Greenville Utilities recently received five Awards of Excellence from ElectriCities of North Carolina. This is the fourteenth consecutive year GUC has received the awards. Awards were presented in the following categories:

■ Grid Modernization — Promote investment in public power communities' electric distribution systems and in technology to ensure safety and reliability, and exceed customer expectations;

■ Value of Public Power — Communicate the value of electric system ownership to key stakeholders;

■ Wholesale Power Cost — Provide competitive and stable wholesale electric rates that meet the power supply need of Power Agency Members;

■ Workforce Planning and Development — Promote a workforce plan to attract, develop, and retain the necessary talent to provide safe, reliable power and lead public power forward; and

■ Continuous Improvement — Constantly review and enhance all aspects of public power, focus on cost reduction, and increase efficiencies in current and future operations.

"Winning awards from organizations like ElectriCities is outstanding," Cannon said. "It's recognition of the quality of work our employees do for our customers day in and day out."

ElectriCities is an organization that represents cities, towns, and universities that own their electric distribution systems. Greenville Utilities is a member of ElectriCities, along with more than 90 other members in North Carolina, South Carolina, and Virginia.


Humans of Greenville


Local photographer Joe Pellegrino explores Greenville to create a photographic census of its people.


July 21, 2019

Nathan Kohan has been named regional circulation and audience director for Adams Publishing Group-ENC, President and Publisher Robin L. Quillon announced.

Kohan will oversee circulation, marketing and distribution operations for all the company's print and digital editions.

“We are fortunate…

Nathan Kohan

July 01, 2019

Members of the Young Professionals of Pitt County began their community service project with the Adopt a Street program on June 1.

Young Professionals have adopted a portion of 10th Street to encourage community pride and enhance Greenville’s quality of life through clean streets and…


July 01, 2019

ECU senior gets economic development internship

East Carolina University rising senior Jonathan Kahn has joined the university’s Division of Research, Economic Development and Engagement as part of its new RISE29 microenterprise program.

The program connects small business ideas with regional…

July 01, 2019

Adams Publishing Group LLC (APG) has announced that it has acquired The Greater Beloit Publishing Company, including the Beloit Daily News, Weekend Daily News and My Stateline Shopper.

Also included in the purchase are all associated websites and the company’s Midwest digital business.


July 01, 2019

Penco Products Inc., a North Carolina-based manufacturing company, is celebrating 150 years of growth and innovation throughout 2019.

Penco’s culture of dedicated service, quality metal lockers and storage products and commitment to continuous improvement has translated into the best fiscal…

July 01, 2019

Bailey’s Fine Jewelry is helping fight hunger in the community by donating to the Food Bank of Central & Eastern North Carolina through its Say I Do, Share the Love campaign.

For every engagement ring purchased from any Bailey’s Fine Jewelry location, Bailey’s will donate…

July 01, 2019

JULY 9: The Pitt Community College Small Business Center is hosting a free seminar from 6-9 p.m. titled “Google Tools for Business.” In this session, we will discuss several of the free Google Apps for work and how they can help your business. Contact Jim Ensor at jensor@email.pittcc.…

July 01, 2019


The City of Greenville Inspections Dept. issued the following permits for June 11-17, 2019:

■ Patheon Manufacturing Services LLC, 5900 Martin Luther King Jr. Highway, commercial alterations, $2,000,000.

■ Patheon Manufacturing Services LLC, 5900 Martin Luther King Jr. Highway, commercial…

July 01, 2019

The following deeds were recorded with the Pitt County Register of Deeds from June 13-19. Each $2 in revenue stamps is equal to $1,000 in valuation. ( No fee required)

Kevin R. Deibert, Tracy L. Deibert to Holley VH Radford, Troy Lee Radford: tract, Stantonsburg Road; 0.34 acre, Arthur Township;…

July 01, 2019

The following new corporations in Pitt and neighboring counties filed June 13-19 with the N.C. Secretary of State’s office:

■ A. Prayer’s Creation LLC, agent Anthony Prayer, 1792 O’Farrell Ave., Greenville.

■ Blounts Trucking LLC, agent David Blount, 3649 New Town Court, Farmville.…

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