CAPITAL REGION WATER ASSIGNED ‘A+’ RATING FROM STANDARD & POOR’S EXPERIENCED MANAGEMENT, STRONG REGIONAL ECONOMY CITED IN RATING STATEMENT
HARRISBURG (March 28, 2016) – On Friday, Standard & Poor’s, one of the world’s leading credit benchmarking organizations, assigned an ‘A+’ rating for Capital Region Water’s Series 2016A and Taxable Series 2016B Water Revenue Refunding Bonds.
The rating of ‘A+’ reflects Capital Region Water’s general creditworthiness and is based on strong risk and financial profiles including a strong regional economy, affordable rates, proactive management, and financial independence from other entities among other factors.
The rating process included a thorough review of all of Capital Region Water’s finances, surrounding risk factors, and interviews with management staff. Capital Region Water has not had a credit rating since taking over operations of the Harrisburg area’s water systems in 2013.The assignment of this A+ rating is recognition from an independent nationally recognized rating organization that the work Capital Region Water has undertaken since 2013 in order to transform this organization into a well-run and efficient enterprise is producing real documentable results,” said Capital Region Water CFO Dave Nowotarski. “I want to thank S&P for recognizing Capital Region Water’s operational improvements, financial strengths, the proactive management team and Board leadership.”
“This is fantastic news for our customers in The City of Harrisburg and surrounding areas and Capital Region Water is very proud to deliver it,” said Capital Region Water CEO Shannon Williams.
The ‘A+’ rating from Standard & Poor’s is considered an investment-grade rating and will provide lower cost financing options to Capital Region Water and its customers.
More information about Capital Region Water and this rating can be found at capitalregionwater.com/investor-kit.