Moody’s Ratings has affirmed the CAWCD 2016 Series revenue bonds with a “Aa2” rating.
According to the Moody’s Rating press release, “The affirmation of the Aa2 rating on the district’s outstanding revenue bonds reflects a vast and growing service area, sound coverage and liquidity, and modest leverage.”
Ratings rationale and outlook
In justifying the rating, the press release cited CAP’s status as an essential water supplier, favorable financial performance, and good governance evidenced by rigorous, multi-year financial and capital projections. It went on to say, “The stable outlook reflects the district’s strong management team and solid rate setting practices … and also incorporates our expectation that the district’s multi-year planning and conservative assumptions will help ensure strong performance despite uncertainty on future Colorado River supplies.”
More information
To learn more about CAWCD Revenue Bonds, see section 7-11 of the 2024-25 Biennial Budget. CAWCD has maintained this secure rating since the issuance of the bonds in 2016.
KRA: Finance
Maintaining long-term financial strength to achieve CAP’s goals and being prepared to address opportunities or challenges
