Fitch Ratings reaffirms Vallecitos' ‘AA+’ rating with a “Stable Outlook”
A strong financial recovery from the recent drought resulted in Fitch Ratings recently reaffirming Vallecitos Water District’s credit rating of ‘AA+’, with a “Stable Outlook” into the foreseeable future. Fitch’s analysis determined the factors for the favorable rating to be:
- a strong financial profile
- manageable debt burden
- managing rising costs
- recovering costs with competitive rates
- water supply diversification
Vallecitos’ rating was bolstered by the recently secured drought-proof supply of water through the Carlsbad Desalination Plant. The AA+ rating is a testament to the actions taken by the Vallecitos Board to ensure that Vallecitos is properly run financially.