WSSC Set to Sell $250 Million in Bonds
Published on by Water Network Research, Official research team of The Water Network in Business
The Washington Suburban Sanitary Commission's Upcoming General Obligation Bond Sale of $250 Million Has Been Rated AAA by Three Credit Rating Agencies
The Washington Suburban Sanitary Commission's (WSSC) upcoming General Obligation Bond Sale of $250 million has been rated AAA by the three services. Fitch Ratings, Standard & Poor's and Moody's Investor Service all assigned the bonds the highest possible AAA rating based on the Commission's history of sound financial practices and strong management.
"WSSC will use the proceeds from the bond sale to continue funding our Capital Improvements Program," said Jerry N. Johnson, WSSC General Manager and CEO. "We are committed to improving our aging infrastructure throughout our entire system and these funds will allow the Commission to continue to upgrade water and sewer mains, as well as provide state of the art facilities needed in the treatment of our water supply and disposal of sewage."
The rating of AAA was also affirmed for the $2.3 billion in outstanding bonds, with all three rating agencies citing WSSC's strong and stable outlook.
In issuing its rating Moody's stated, "The AAA rating reflects the historic self-support and the satisfactory financial position of the water and sewer enterprise."
Source: Business Wire
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