This Week
  • Developer plans a $15 million project to renovate a historic site in Clifton Springs.

  • The economy and demographics have Sheridan Bros. Moving on the move.

  • Technology and other factors have brought big changes to commercial building.

  • From Morocco, Joseph Squalli traveled far to become Rooney's Restaurant owner.

  • RocMusic director Alexander Pena rallies young music makers.

  • Challenges mount for area companies that do business in Russia.

Rural/Metro tells city no service problems ahead

Rochester Business Journal
August 2, 2013

Rural/Metro Corp. has told the city of Rochester officials that its financial issues will cause no service problems for Rochester, Mayor Thomas Richards said Friday.

The Scottsdale, Ariz.-based provider of ambulance and fire services missed an interest payment and is in danger of defaulting on its bonds, a report in the Arizona Republic newspaper said. The Wall Street Journal reported Rural/Metro is preparing for possible bankruptcy filing.

“The city is aware of the reports surrounding Rural/Metro Corp.’s financial situation and we have discussed the situation with the company’s management,” Richards said in a statement.

“The city’s agreement with Rural/Metro provides various options for the city to step in should there be a service problem. Locally, we have experienced no degradation of service and we have been assured there will be none. That being said, we are closely monitoring the situation and will remain in touch with the corporation’s senior management.” 

Rural/Metro is owned by affiliates of private-equity firm Warburg Pincus LLC.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google