The three principal credit rating agencies have reaffirmed the District of Columbia Water and Sewer Authority’s (WASA) double A minus credit rating. Moody’s Investors Service, Standard and Poor’s and Fitch Ratings reasserted WASA’s senior lien revenue bonds "Aa3 / AA- / AA-," respectively. With these noteworthy ratings, WASA remains within an elite group of utilities with ratings in the double-A category, the second highest rating category available to state and local municipal bond issuers.

The rating agencies noted WASA’s strength of management, including long-term financial planning, ample cash balances, stable service area, track record of implementing rate increases as needed, and diverse customer base as major positives.

“The conservative financial policies set by WASA’s Board of Directors are reflected in the credit factors used by the rating agencies in evaluating the Authority’s financial strength,” WASA General Manager Jerry N. Johnson said. “Their confidence in our financial performance will mean significant savings for WASA and its customers.”

The better WASA’s bond rating, the lower the interest rate is on borrowing when paying for its ten-year, $2.2 billion capital improvement program to upgrade the city’s water and sewer infrastructure.

WASA is an independent Authority of the District of Columbia government and serves over 580,000 residents in the District by delivering drinking water and collecting and treating wastewater. WASA also serves approximately 1.6 million people in the surrounding counties of Montgomery and Prince George’s in Maryland and Fairfax and Loudoun in Virginia with wastewater treatment services at the Blue Plains Advanced Wastewater Treatment Plant.

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