East Wenatchee Water District, WA Bonds Assigned #AA# Rating On Very Strong Financial, Enterprise Risk Profiles

Stocks and Financial Services Press Releases Thursday April 20, 2017 09:04
SAN FRANCISCO--20 Apr--S&P Global Ratings

SAN FRANCISCO (S&P Global Ratings) April 19, 2017--S&P Global Ratings assigned its 'AA' long-term rating to East Wenatchee Water District (EWWD), Wash.'s series 2017 water revenue and refunding bonds. At the same time, we affirmed our 'AA' long-term rating on the district's existing parity-lien bonds. The outlook is stable. "The rating reflects, in our opinion, the combination of a very strong enterprise risk profile and a very strong financial risk profile," said S&P Global Ratings credit analyst Chloe Weil. "The rating further reflects our view of the district's affordable rates and very low industry risk," Ms. Weil added. The district is issuing 2017 bonds primarily for the purpose of funding capital improvements. The remaining bond proceeds will be used to advance refund a portion of the 2010 water revenue bonds. The district covers about 30 square miles, including the city of East Wenatchee and is located in the central portion of the state of Washington.

The district is on the east side of the Cascade mountain range in Douglas County and east of the Columbia River. Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.globalcreditportal.com and at www.spcapitaliq.com. All ratings affected by this rating action can be found on the S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


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