Connecticut Water Service Inc. said today it has purchased the Legend Hill water system in Madison and will begin steps to deal with uranium tainting the system.
The acquisition allows Clinton-based Connecticut Water to solve water quality issues in the system and at two public schools in Madison.
Eric W. Thornburg, CT Water’s president and CEO, said a solution was forged through the cooperation of local and state health,education and government officials, and the Legend Hill Condominium Association.
Connecticut Water paid $1 for the Legend Hill system and is investing about $400,000 to install a treatment system to deal with the uranium. Eventually, the Ryerson and Brown schools and members of the Legend Hill Condominium Association will be connected to the system, becoming Connecticut Water customers.
Also, Connecticut Water announced Standard & Poor’s Ratings Service reaffirmed its ‘A’ corporate credit rating and its Connecticut Water Co. utility unit. The rating is based on S&P’s expectation of adequate and timely rate relief in 2010 and that the company will maintain its strong financial profile.
