Mesa Water's Outstanding Financial Performance Reaffirmed by Fitch Ratings

Posted: Wednesday, May 12, 2021

Fitch Ratings Inc., one of the top credit rating agencies in the nation, has reaffirmed Mesa Water District’s (Mesa Water®) AAA credit rating – the highest achievable by an organization. The latest assessment by the credit agency highlights the District’s financial strength, operational efficiency and fiscal responsibility.

“Mesa Water is best in class and our AAA credit rating confirms that we continue to be financially strong. This is an outstanding accomplishment,” says Marice H. DePasquale, Mesa Water Board President. “The AAA rating saves ratepayers money by allowing Mesa Water to borrow funds at the lowest possible interest rate for infrastructure improvements, like the construction of our two new wells and investment in pipeline integrity testing, which will save ratepayers $262 million over a 30-year period beginning in 2013 and ensures continued reliable service.”

The sustained AAA standing highlights the Mesa Water Board of Directors and staff’s proactive, financial management practices, which include the use of long-term financial and capital planning.