Fitch Ratings reaffirms the Vallecitos Water District’s ‘AA+’ rating with a “Stable Outlook”
Prudent financial planning and reasonable assumptions in an uncertain global environment result in Fitch Ratings recently reaffirming Vallecitos Water District’s credit rating of ‘AA+’, with a “Stable Outlook” into the foreseeable future.
Fitch’s analysis determined the factors for the favorable rating to be:
- Very strong revenue defensibility
- Low operating risk profile
- Favorable service area
- Affordable rates
- Sound debt coverage and liquidity levels
Vallecitos’ rating was bolstered by an informed forecast pointing to continued solid performance. The AA+ rating is a testament to the actions taken by the Vallecitos Board to ensure that Vallecitos is properly run financially.