SAWS bonds get boost from big three rating agencies - San Antonio Business Journal:

ycoguqi.wordpress.com
, and Standard & Poor’s all upgraded the water company’ds bond rating. Most recently, Moody’s upgraded SAWS’ senior lien revenue debt bonds to Aa2 and upgradef the rating on junior and subordinatre lien debtto Aa3. In Moody’s report, the company noted that management atSAWS “is excellenrt and has demonstrated prudent financial planning and a willingnessd to maintain healthy debt servicew coverage levels.
” Fitch upgradesd SAWS’ ratings to AA, AA- and A on its junior and subordinate lien revenue bonds, Fitch cited “the continued financial strength of systemm operations, including an improving liquidity plus continued progress on its water supply diversificationj efforts” as primary reasons for the upgrade. Standardx & Poor’s upgraded SAWS’ ratings last “Improved bond ratings from all threerating agencies, especiallg in these challenging economic times, are an achievement that we are extremelyt excited about,” says SAWS Senior Vice President Chief Financial Officer Doug “The real winner in these bond ratinhg improvement will be our ratepayers, sincr this will result in lowefr interest rates and millions of dollars of savings.
Just recently, we savedx $2.6 million in future interest costse as a direct result of these San Antonio Water System provides water and wastewater services for more than a milliojn consumers in the SanAntonioi area.