Fitch ratings once again have affirmed the CAWCD Revenue Bonds with a stable “AA” rating on its $41 million water delivery operation and maintenance (O & M) revenue bonds, series 2016.
The rating is a sign of reliable long-term expectations for the bond and of CAP’s resiliency during a challenging environment that includes a potential water shortage and COVID-19.
A portion of the Fitch report states:
- “The operating-risk profile of the district is very strong given a very low operating cost burden, reflected as total costs relative to water delivered, and low life-cycle ratio.”
For more information, see section 7-9 of the 2020-21 Biennial Budget.
CAWCD has maintained this secure rating since the issuance of the bonds in 2016