The Bond Buyer, a specialty publication that focuses on news about municipal bonds and public finance, reported today that because of possible legal challenges and the need to seek third-party approvals Vero Beach faces a “long haul” in selling its electric system to FLorida Power & Light.

Siting both the Fitch and Mood’s rating services, The Bond Buyer also reported that sales such as the one proposed between Vero Beach and FPL are not likely to become a trend, despite FPL C.E.O. Eric Silagy’s recent assurances to investors that the company has opportunities to expand its customer base by buying some of Florida’s remaining 34 municipally owned utilities.

The Bond Buyer report quoted Fitch analyst Dennis Pidherny as saying, “These proposed transactions are not part of a growing trend in our view but rather a consequence of the specific needs and objectives of the respective municipalities and its ratepayers.”

For the full version of The Bond Buyer report follow the link below:

http://www.bondbuyer.com/issues/122_55/vero-beach-florida-voters-want-electric-system-sold-to-fpl-but-faces-review-1049919-1.html