13.1%, 8.4%, 7.8%, 7.2%, 3.4%, -7.4%. One of those numbers is really dragging your average down which is the thing. Telecom industry is filled with a lot of dead weight.
As to Chattanooga network, economy's of scale are huge in this business and those 4.5% bonds are well above the industry average right now. Still, a city breaking even is not bad if their debt is growing slower than inflation. It's a question of deprecation of assets not rate of loan repayment.
PS: They city may also not be trying to make much in the way of direct profit, it would be interesting to take a closer look at their books.
As to Chattanooga network, economy's of scale are huge in this business and those 4.5% bonds are well above the industry average right now. Still, a city breaking even is not bad if their debt is growing slower than inflation. It's a question of deprecation of assets not rate of loan repayment.
PS: They city may also not be trying to make much in the way of direct profit, it would be interesting to take a closer look at their books.