LOUDOUN WATER
ON TAP
www.loudounwater.org 44865 Loudoun Water Way Ashburn, VA 20147
LOUDOUN WATER UPDATE | SEPTEMBER/OCTOBER 2015
SEPTEMBER IS NATIONAL PREPAREDNESS MONTH September is National Preparedness Month and this year’s theme is “Don’t Wait. Communicate. Make Your Emergency Plan Today.” We are encouraging everyone to take part, make a plan and know what to do during an emergency. Loudoun Water will be sharing information created by FEMA on our Facebook and Twitter pages throughout the month, encouraging families to create emergency plans that fit their individual needs.
LOUDOUN WATER EARNS TRIPLE-A BOND RATING Loudoun Water has earned a triple-A bond rating - the highest credit rating available - from all three major bond rating agencies. Moody’s upgraded Loudoun Water’s rating in late July from Aa1 to Aaa, citing, “... the Authority’s very strong finances, supported by an ample liquidity position and consistently solid debt service coverage due to conservative management practices.” Loudoun Water is now one of only 10 combined water and wastewater utilities in the United States to hold an Aaa rating from Moody’s. Fitch Ratings awarded Loudoun Water its first AAA rating in 2005 followed by Standard & Poor’s in 2008. “This is a testament to Loudoun Water’s longterm financial planning and strong financial position,” said Loudoun Water Chairman Johnny Rocca. “Receiving a Triple-A rating from the three major agencies will enable Loudoun Water to
fund capital improvement projects at the best possible rates, providing our customers with costsavings and honoring our ongoing commitment to outstanding service.” The ratings come in advance of Loudoun Water’s plans to issue $60 million in water and sewer system revenue bonds and $60.3 million in refunding bonds. Fitch expects little change in the authority’s strong credit profile, noting key rating drivers such as an affluent service area and robust economy; sound capital and resource planning; strong finances and low rates; and an elevated, manageable debt burden. Standard & Poor’s noted the service area supports a steadily growing, very diverse and affluent Loudoun County; affordable rates, autonomous rate-setting ability, and demonstrated willingness to adjust rates to maintain strong financial margins.