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Posted on: March 10, 2022

CVWD Earns Upgraded Bond Rating

Bond Rating

The Cucamonga Valley Water District (CVWD/District) has earned a bond rating of ‘AA+’, an upgrade from the previous ‘AA’ rating from Fitch Ratings Inc. for its outstanding water system and low debt leverage ratio. Fitch Ratings Inc. is a nationally recognized credit rating agency designated by the U.S. Securities and Exchange Commission. The rating agency has a complete span of best and worse-case scenario credit ratings for all rating categories which ranges from ‘AAA’ to ‘D’.

Strong operational management, proactive drought contingency plans and emergency preparedness plans, along with strong financial management practices and policies contributed to the new upgraded bond rating. Other contributing factors include CVWD’s reliability through its diverse water supply portfolio including ample pumping entitlements, the collection of surface water, and the rights to local canyon water. Capital projects within the current capital improvement plan are expected to increase access to local supply and reduce purchased water costs in upcoming years. 

 “CVWD is committed to being good stewards of our natural and financial resources and our District continues to work diligently to maintain excellence in bond ratings,” stated CVWD Board President Randall James Reed. “These efforts help reduce the cost of loans, contributing to the District’s strong financial health.” 

CVWD continually looks for ways to be more efficient especially when it comes to financial management. Earning and maintaining favorable credit ratings places the District in a good position to further refinance debt in order to lower interest costs. Lower debt costs will allow the funding of future capital projects that ensure a reliable water supply for the community today, and beyond.  

For more information about CVWD, its bond ratings, and its commitment to financial excellence, please visit CVWDwater.com or call 909-987-2591. 

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