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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