Sunday, April 20, 2025
51 F
Roseville

Placer County Water Agency Credit Rating Reaffirmed

SourcePCWA

Lower Rates sought in $31.47 Million Debt Refinancing

Auburn, Calif.  – The Placer County Water Agency (PCWA) is in the final stages of refinancing approximately $31.47 million of debt to take advantage of lower interest rates available in the market. The refinancing, which aims to save the Agency money, was discussed by PCWA’s Director of Financial Services, Joe Parker, at the March 15 meeting of the PCWA Board of Directors.

As part of the refinancing process, PCWA sought updated credit ratings from both Standard & Poor’s (S&P) and Moody’s Investors Service (Moody’s), two of the primary credit rating agencies that rate municipal bonds. S&P assigned its highest rating of AAA to the Agency’s 2018 Certificates of Participation, and reaffirmed its AAA long-term rating on PCWA’s previously issued certificates. Likewise, Moody’s assigned an Aa2 rating to the 2018 Certificates of Participation, and reaffirmed its Aa2 rating for the Agency’s previously issued certificates.

“We’re thrilled with PCWA’s continued high credit ratings,” Parker said. “Investors in next week’s bond sale will view these results very favorably, leading to lower interest costs for the Agency’s Water Division debt.”

S&P cited, among other factors, a broad and diverse service area, moderately-affordable water rates with demonstrated ability to increase rates, and strong operational management practices and policies in assigning its AAA rating. Moody’s report cited PCWA’s very strong debt service coverage and liquidity, large and growing water system with plentiful water supply, manageable debt levels, and strong rate management.

PCWA board meetings are open to the public.

For information on PCWA board meetings, please contact the Clerk to the Board at (530) 823-4850 or (800) 464-0030.



Coming Up!

Coming Up!

Trending

West Coast Sourdough in Roseville on Blue Oaks

West Coast Sourdough located in Roseville, CA offers the freshest sourdough bread and ingredients in each sandwich we create! We also have bread bowls, salads and freshly baked cookies each day! Come try the best sandwich shop in Roseville, CA today

Sierra College Foundation to establish Joshua Cohen Memorial Endowment Fund

Rocklin, Calif. - Sierra College Foundation (SCF) is humbled to announce it has received a $400,000 gift to establish the Joshua Cohen Memorial Endowment Fund to support Sierra College students pursuing degrees in computer science and related fields,

New Colfax Water Treatment Plant: PCWA approves construction contract

Auburn, Calif. - At a special meeting on Friday, the Placer County Water Agency (PCWA) Board of Directors approved a construction contract for the new Colfax Water Treatment Plant

Placer County Youth Commission accepting applications for 2025-26 term

Auburn, Calif. - The Placer County Youth Commission is now accepting applications from local youth who wish to serve as one of 21 formally appointed members for the 2025-26 term.

Can I still be healthy on Spring Break? 6 travel tips from a nutritionist

Sacramento, Calif.- After many weeks of rain and cold in the Sacramento area, it's finally time to start thinking about spring break travel!

Topics

West Coast Sourdough in Roseville on Blue Oaks

West Coast Sourdough located in Roseville, CA offers the freshest sourdough bread and ingredients in each sandwich we create! We also have bread bowls, salads and freshly baked cookies each day! Come try the best sandwich shop in Roseville, CA today

Sierra College Foundation to establish Joshua Cohen Memorial Endowment Fund

Rocklin, Calif. - Sierra College Foundation (SCF) is humbled to announce it has received a $400,000 gift to establish the Joshua Cohen Memorial Endowment Fund to support Sierra College students pursuing degrees in computer science and related fields,

New Colfax Water Treatment Plant: PCWA approves construction contract

Auburn, Calif. - At a special meeting on Friday, the Placer County Water Agency (PCWA) Board of Directors approved a construction contract for the new Colfax Water Treatment Plant

Placer County Youth Commission accepting applications for 2025-26 term

Auburn, Calif. - The Placer County Youth Commission is now accepting applications from local youth who wish to serve as one of 21 formally appointed members for the 2025-26 term.

Can I still be healthy on Spring Break? 6 travel tips from a nutritionist

Sacramento, Calif.- After many weeks of rain and cold in the Sacramento area, it's finally time to start thinking about spring break travel!

Human Genome Project: Personalize your health

Incredibly, years ago, the entire human genome was mapped! You might be thinking, "What is that, and how does it affect me?"

California Window Fashions by Skyline in Roseville

Transform the natural light in your Roseville home with window treatments. Discover Hunter Douglas shades and blinds, shutters and drapery.

2025 Genesis GV80 Coup arrives with dubious name

The new 2025 Genesis GV80 Coupe. The luxury division of Hyundai, Genesis officially categorizes the vehicle as a mid-size luxury SUV. Yet there's no denying the sloping roofline is reminiscent of a coupe

Related Articles

Local Spotlight

Making a Splash in Roseville at Steve Wallen Swim School

Roseville, Calif. - Steve Wallen Swim School in Roseville teaches swim lessons and water safety for infants, kids, and adults of all skill levels.

Mobley Pest Services in Roseville serving the community and region for over 20 years

Roseville, Calif.- Fully licensed and bonded, Mobley Pest Services in Roseville has been providing reliable pest control services for well over 20 years. Serving residents and businesses in the greater Placer and Sacramento region, Mobley Pest Services is locally owned and operated in Roseville.

California Recovery Center in Roseville offers treatment for substance abuse and mental health

California Recovery Center (CRC) is a treatment provider for adults with substance abuse and mental health condition, located in Roseville and serving the greater Sacramento region.