In September, Western Municipal Water District (Western Water) received a “positive outlook” to its AA+ credit rating from Standard & Poor’s (S&P), one of the country’s top credit rating agencies, thanks to strong financial management practices and robust planning efforts.
For customers, this brings added confidence that their utility is managed transparently, efficiently, and with reliable, high-quality water delivery as the top priority.
When announcing the ratings, S&P cited Western Water’s ongoing strengths, including:
S&P recognizes Western Water’s success in working toward a sustainable water future, noting that “As imported water provided by the Metropolitan Water District of Southern California (MWD) has increased in cost and experienced significant fluctuations in state water project allocations in recent years, Western Water has lowered its reliance on direct MWD purchases to about 50% of its delivered and produced water for its retail customers.”
“These ratings reflect Western Water’s solid financial position and investor confidence in our agency, which is crucial as we invest in projects to manage our resources, reduce our dependence on imported water and build a more resilient region,” said Western Water’s Board President Mike Gardner.
S&P also praised Western Water’s management team for maintaining best practices critical to supporting credit quality by embedding these practices in Western Water’s daily operations.
For more information about Western Water, visit WesternWaterCA.gov or call 951.571.7100.
Western Municipal Water District (Western Water) is one of the largest public agencies in Riverside County, providing water and wastewater (sewer) services to nearly a million people, both retail and wholesale customers who live, work, and play within 527 square miles in one of California’s most populous regions. Learn more: WesternWaterCA.gov.