File Under: Northern New Englanders grab your KY...

cause we are gonna get screwed and hard. It would seem that the bond market doesn't like Fairpoint's purchase of Verizon's landline/broadband capacity in Maine, Vermont and New Hampshire. Fairpoint had to put their bonds out at a higher than planned interest rate to raise the $550 million needed for the purchase, and that was to just get the ball rolling. The way this will screw us? That extra money spent in interest will not be spent on system upgrades and maintenance. I suspect that the smaller town/markets will be hurt the worst by this problem. I think all three states utility commissions deserve a rousing applause for approving this deal.