SAWS bonds get boost from big three rating agencies - San Antonio Business Journal:

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, and Standard & Poor’s all upgradef the water company’s bond rating. Most recently, Moody’s upgradef SAWS’ senior lien revenue debt bond to Aa2 and upgraded the rating on junior and subordinat e lien debtto Aa3. In Moody’sa report, the company noted that management atSAWS “is excellent and has demonstrated prudent financial planniny and a willingness to maintain healthy debt service coveragew levels.” Fitch upgraded SAWS’ ratings to AA, AA- and A on its junior and subordinate lien revenue bonds, respectively.
Fitch citedc “the continued financial strength ofsystem operations, including an improving liquiditty position, plus continued progress on its water suppl diversification efforts” as primary reasond for the upgrade. Standard & Poor’s upgradeds SAWS’ ratings last month. “Improved bond ratings from all threewrating agencies, especially in thesed challenging economic times, are an achievement that we are extremelgy excited about,” says SAWS Senior Vice President Chief Financial Office Doug Evanson.
“The real winner in these bond ratinh improvement will beour ratepayers, sinc e this will result in loweer interest rates and milliona of dollars of savings. Just recently, we saved $2.6 millioh in future interest costs as a direct result of these San Antonio Water System provides wated and wastewater services for more than a million consumers in the SanAntonio area.