Granite Bay, Calif. – San Juan Water District has been assigned an AA long-term bond rating by Standard & Poor’s Ratings Services. The rating applies to the District’s series 2009A certificates of participation as well as the series 2012A refunding revenue bonds.
“We’re proud that the District has maintained its high bond ratings,” said General Manager Shauna Lorance. “It is a reflection of the Board’s commitment to excellence both in service delivery and financial performance.”
The high rating was based partly upon the assumption that the District will enact a rate adjustment to maintain its strong financial position.
Other criteria includes:
Sufficient water supply to meet demands despite continued drought conditions
Historically strong financial performance, reserves and total debt service
Strong economic base of the service area
The certificates of participation and bonds were issued for a variety of capital improvement projects on both the wholesale and retail water systems.