The ‘AA+’ revenue bond rating and ‘aa+’ Standalone Credit Profile (SCP) reflect the system’s very strong financial profile with low leverage of 3.6x in fiscal 2024, projected to increase to 5.5x over the next five years in the Fitch Analytical Stress Test (FAST) rating case. The rating and SCP are also supported by affordable rates for 90% of the service are population and significant planned capital spending of $242 million from 2025-2029, with 67% funded through pay-go and 33% through debt financing.
Tue 29 Apr, 2025