East Bay Municipal Utility District, CA Water System Bonds Assigned 'AAA' Rating

SAN FRANCISCO (S&P Global Ratings) May 25, 2017--S&P Global Ratings assigned its 'AAA' long-term rating to East Bay Municipal Utility District, Calif.'s series 2017A water system revenue bonds (green bonds) and series 2017B water system revenue/refunding bonds. At the same time, we affirmed our 'AAA' long-term rating and underlying rating (SPUR) on the district's existing water system revenue bonds, the 'AAA' long-term component of the dual ratings on the district's variable-rate bonds, and our 'A-1+' short-term rating on the district's commercial paper notes (water series). The outlook, where applicable, is stable. "The ratings reflect, in our opinion, the combination of an extremely strong enterprise risk profile and a very strong financial risk profile," said S&P Global Ratings credit analyst Tim

...SAN FRANCISCO (S&P Global Ratings) May 25, 2017--S&P Global Ratings assigned its '###' long-term rating to East Bay Municipal Utility District, Calif.'s series 2017A water system revenue bonds (green bonds) and series 2017B water system revenue/refunding bonds. At the same time, we affirmed our '###' long-term rating and underlying rating (SPUR) on the district's existing water system revenue bonds, the '###' long-term component of the dual ratings on the district's variable-rate bonds, and our 'A-1+' short-term rating on the district's commercial paper notes (water series). The outlook, where applicable, is stable. "The ratings reflect, in our opinion, the combination of an extremely strong enterprise risk profile and a very strong financial risk profile," said S&P Global Ratings credit analyst Tim Tung. The enterprise risk profile reflects our view of the water system's: + Service area participation in the broad and diverse San Francisco metropolitan area economy; + Very low industry...

Ratings Action