Aqua America Hires 30-Year Finance Veteran as Treasurer
BRYN MAWR, Pa., Jan 12, 2010 (BUSINESS WIRE) -- Aqua America, Inc. (NYSE: WTR) has hired Diana Moy Kelly as treasurer. In this role, Moy Kelly is responsible for managing the company's short- and long-term debt financings, cash management, payroll, and accounts payable functions.
Moy Kelly has more than 30 years of treasury and corporate finance experience including 10 years as an issuer of asset-backed securities in the student loan and consumer auto loan sectors. She also served as assistant treasurer of PECO Energy Company during the deregulation of the electric utility industry in Pennsylvania.
"I am confident that Diana's experience is well-suited for our company and our goal to continue to use our balance sheet to access the capital markets at favorable rates to enhance our major capital program to rebuild our companies' water and wastewater utility infrastructure," said Aqua America Chairman and CEO Nicholas DeBenedictis. CFO Dave Smeltzer echoed that confidence. "We first engaged Diana in November on an interim basis. We had just six weeks to close a $75 million tax exempt bond, issue a $50 million private placement at 4.72 percent; renew the $70 million Aqua Pennsylvania line of credit and the AA $10 million discretionary line; and convert the Ohio and Illinois lines to one $15 million AA line (saving 50 basis points). Diana completed the job on time and without missing a beat."
Moy Kelly received a B.A. in economics and accounting from the Catholic University of America and an MBA in finance and accounting from the University of Pittsburgh. She is a member of the Philadelphia Treasurers' Club.
Aqua America, Inc. is a U.S.-based publicly traded water and wastewater utility holding company, serving approximately threemillion residents in Pennsylvania, New York, Ohio, North Carolina, Illinois, Texas, Florida, New Jersey, Indiana, Virginia, Maine, Missouri, South Carolina and Georgia. Aqua America is listed on both the New York and Philadelphia Stock Exchanges under the ticker symbol WTR.
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SOURCE: Aqua America, Inc.
Aqua America, Inc.
Donna Alston
Director, Communications
610-645-1095
dpalston@aquaamerica.com
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