By Kurt Menk
The RS Fiber Cooperative is experiencing financial woes.
The RS Fiber Cooperative has an agreement with Hia-watha Broadband (HBC) to restructure the debt, according to minutes from the recent RS Fiber Joint Powers Board meeting. HBC would consolidate and hold all senior debt with a reduced interest rate. The RS Fiber Cooperative is seeking approval for up to $14 million in additional senior secured debt. This move would allow the RS Fiber Cooperative to pay outstanding accounts payable and allow for funds to be used for marketing and new customer installations and service.
The Joint Powers Board was expected to approve the additional senior debt.
Find the complete story in the April 11, 2019 edition of the Arlington Enterprise.