Page 56 - Yucaipa Valley Water District
P. 56
Workshop Memorandum 17-015
Date: January 10, 2017
From: Joseph Zoba, General Manager
Subject: Overview of Rating Agency Redetermination of the Yucaipa Valley Water District
Related to the 2015A Refunding Revenue Bonds
In 2015 the Yucaipa Valley Water District refinanced the 2004A Certificates of Participation used
to finance the construction of the Yucaipa Valley Regional Water Filtration Facility.
Every two years, the District
will be reevaluated to
determine if the credit rating
should be changed to reflect
current financial conditions
and external constraints.
The latest reassessment of
the District credit rating has
been held stable a AA- rating
by Fitch Ratings.
The purpose of this agenda
item is to discuss the
strengths, challenges, overall
rating methodology and to
reinforce the fundamental
financial indicators of the
Yucaipa Valley Water District
on behalf of our customers.
By continuously monitoring
and strengthening our core
financial standing, the District
will be able to obtain lower
interest rates in the future and
attract additional investments
for future infrastructure
improvements.
Yucaipa Valley Water District - January 31, 2017 - Page 55 of 68
