Mesa Water Receives Best in Class Credit Ratings

Mesa Water District (Mesa Water®) is pleased to announce its renewed AAA credit rating -- the highest achievable by an organization -- from Standard & Poor’s (S&P) and Fitch rating agencies. The coveted ratings are based on Mesa Water’s operational effectiveness and efficiencies, including excellent financial management practices, as evidenced by the use of longterm financial and capital planning, an economical water rates structure, and the implementation of a strong financial policy framework. AAA ratings allow Mesa Water to save ratepayer money by borrowing funds at the lowest possible interest rate for infrastructure improvements.

 

The remarkable ratings reaffirm the Mesa Water Board of Directors’ (Board) and staff’s proactive planning and strong focus on operational efficiency, positioning the District to maintain its high standards for operations and customer service. Mesa Water is one of the most efficient water agencies with the lowest expenditures per capita of any water district in Orange County.

At the May 14 Mesa Water Board meeting, the Board approved the budget for fiscal year 2021, continuing to position the District as financially sound and efficient. The Board approved a three-year $70MM Capital Improvement Program funded through Certificates of Participation.

“This program continues Mesa Water’s key objective of providing a safe, abundant and reliable water supply to our ratepayers at an affordable price, for generations to come,” explains Mesa Water Board President, Shawn Dewane.

Through 2023, Mesa Water will construct two new wells to increase local water production capacity, and invest in pipeline integrity testing to ensure economical and timely replacement for continued reliable service of high-quality water to customers.