Utilities News

Moody's Upgrades Palo Alto's Water Enterprise Bond Rating

Moody's Upgrades Palo Alto's Water Enterprise Bond Rating

September 20, 2016 – In September 2016, Moody's Investors Service upgraded the City’s 2009 Water Revenue Bonds to their second highest rating of Aa1. Since October 2009, Standard & Poor’s gave this bond their highest rating of triple A. The ratings are based on the City’s strong management team, the water operations sound financials, and the wealth of the community which provides for a strong and reliable customer base. The ratings also reflects the residents prioritization of strengthening the City’s water infrastructure reliability through robust capital improvement spending over the years which continued during recent times when challenges of statewide major water infrastructure improvements and drought lead to significant increases in water costs and customer rates.

To read the original statement from Moody’s, click here.  For more on Moody’s research and methodologies, click here.

Last Updated: September 20, 2016