Public Utilities

Public Utilities

FITCH AFFIRMS RIVERSIDE PUBLIC UTILITIES’ WATER BOND RATINGS, STABLE OUTLOOK

4/22/2013

San Francisco, Calif. – Fitch Ratings last week affirmed their AA+ and AA+/F1+ ratings on a series of Riverside Public Utilities’ (RPU) water revenue bonds, and stated that the rating outlook for the community-owned water utility remains stable.

Fitch affirmed the utility’s AA+ rating for $155.12 million in water system revenue bonds, series 2001, 2008B, 2009A, and 2009B, as well as the utility’s AA+/F1+ rating on $58.2 million in variable rate refunding water system revenue bonds, series 2011A.

The ratings firm cited RPU’s plentiful and local groundwater supply as a key credit strength that has allowed the utility to make significant investments in its water supply reliability and delivery infrastructure over the past decade while maintaining reduced supply costs.

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Printed from: http://www.riversideca.gov/utilities/news-display.asp