Moody’s Investor Service recently upgraded the credit rating of Renewable Water Resources.
According to a news release, Moody’s changed the credit rating on senior lien bonds from Aa2 to Aa1 and junior lien bonds from Aa3 to Aa1.
“ReWa is delighted to receive the Aa1 rating from Moody’s Investors Service on all outstanding debt in recognition of our strong financial management and diverse service area,” said Patricia Dennis, the agency’s controller, in the release. “ReWa takes its responsibility to rate payers very seriously and is a proud steward of our environmental and fiscal resources. This Aa1 rating will reduce ReWa’s future borrowing costs and ultimately benefit all rate payers.”
ReWa officials said “the Aa1 rating reflects ReWa’s well-managed financial position and the continued growth of Greenville’s economy. The Aa1 rating should allow ReWa to obtain lower interest rates on future borrowings.”