BLOOMBERG: Harrisburg (9661MF) cleared Morgan Stanley (MS),KKR & Co. (KKR) and 18 others to bid for its parking system, water and sewer operations, and the incinerator that drove Pennsylvania’s capital into insolvency…
Selling or leasing assets is part of Unkovic’s plan to deal with more than $300 million in incinerator-related debt, five times Harrisburg’s general-fund budget. The community of 49,500 residents backed financing an overhaul of the waste-to-energy plant, which doesn’t produce enough revenue to cover the cost…
For the incinerator, which is run by a unit of Covanta Holding Corp. (CVA), four parties can bid: Cambridge Project Development Inc. of Miami and Energy Investors Funds; Interstate Waste Services Inc. of Ramsey, New Jersey; the Lancaster County Solid Waste Management Authority (26675MF) in Lancaster, Pennsylvania; and Wheelabrator Technologies, a Hampton, New Hampshire-based unit of Waste Management Inc. (WM) … (more)
