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RATINGS SERVICE UPGRADES MESA’S WATER SYSTEM
Costa Mesa, Calif. – Standard & Poor’s
Ratings Services, a leading global rating agency,
recently upgraded Mesa Consolidated Water District’s
(Mesa) water system rating to AA from A+. The rating
upgrade reflects Mesa’s consistently strong
financial operations, which has allowed the District
to build up reserves to a strong level, along with
a lessened reliance upon imported water to meet water
demand needs.
Standard & Poor upgraded Mesa’s rating
based on the strong local economic base, a diversified
water resource mix, the District’s affordable
rates, a manageable capital plan, and the District’s
strong financial position.
“The Board of Directors recently adopted
a Strategic Plan, in which the Board discussed strengthening
Mesa’s bond rating,” said James F. Atkinson,
Mesa’s Board President. “Mesa’s
staff and Board have worked diligently to meet those
goals.”
Credit stability reflects the strength and diversity
of the area’s local economic base, as well
as management’s continued efforts to reduce
its dependence on expensive imported water without
rate shock.
More information about Mesa and a copy of the latest
Water Quality Report is available at www.mesawater.org.
All ratings affected by the rating action can be
found on Standard & Poor’s public website
at www.standardandpoors.com; under Credit Ratings.
Mesa provides water service
to more than 100,000 customers in an 18 square-mile
area. The service area includes the city of Costa
Mesa, parts of Newport Beach, and the John Wayne
Airport. Mesa is dedicated to satisfying our community's
water needs.
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