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.


Latest Press Release

Huawei Holds Fifth Global Financial Summit in Beijing

On May 23, 2017, Huawei held its fifth Global Financial Summit themed "Leading New ICT, Fueling Digital Finance Transformation" in Beijing, China. Bringing together over 800 foreign and domestic finance customers and industry experts, including China...

Gossip News: CIMB Thai Bank appoints Maris Samaram as an Independent Director and Chairman of Audit Committee

CIMB Thai Bank stated that the bank has appointed Mr. Maris Samaram as an Independent Director and Chairman of Audit Committee. His directorship and positions held in other companies are an Independent Director, Member of Audit Committee and Member of...

Photo Release: UOBAM Joins TISCO Banks Open Architecture

TISCO Bank Public Company Limited (TISCO) and UOB Asset Management (Thailand) Co., Ltd. signed a Memorandum of Understanding (MoU) on Open Architecture Investment Platform. With TISCO's "Top Advisory" service, investors can invest in UOBAM's mutual funds...

Ratings On Several Brazilian Corporations Placed On CreditWatch Negative Following A Similar Action On The Sovereign

SAO PAULO (S&P Global Ratings) May 23, 2017--S&P Global Ratings said todaythat it placed its ratings on several Brazilian corporations on CreditWatchwith negative implications following similar action on Brazil's 'BB/B' localand foreign currency...

Inversiones Latin America Power Limitada #BBB-# Preliminary Debt Rating Outlook Remains Stable

MEXICO CITY (S&P Global Ratings) May 23, 2017--S&P Global Ratings todayaffirmed its preliminary 'BBB-' rating on Inversiones Latin America PowerLimitada's (ILAP's or the project's) proposed $421 million senior securednotes issuance. The outlook...

Related Topics