Yorba Linda, CA – The Yorba Linda Water District (District/YLWD) is pleased to announce the upgrade of its revenue bond rating and Issuer Default Rating (IDR) from ‘AA+’ to ‘AAA’ by Fitch Ratings, a remarkable accomplishment for YLWD, placing it at the highest level on Fitch’s rating scale. Fitch Ratings is renowned for its credit rating services. The AAA rating, recognized as the pinnacle of credit ratings, represents the highest degree of financial strength and stability and is a testament to the District’s dedication to financial responsibility and transparency.
Fitchs’ Key Rating Drivers for the upgrade to ‘AAA’ include the District’s ‘Exceptionally Strong’ financial profile, its ‘Very Strong’ revenue defensibility (affordable rates for the vast majority of the population served), and ‘Very Strong’ operating risk profile (very low operating cost burden, moderate investment needs). The upgrade was also driven by consistent improvement in leverage following the district’s implementation of a multi-year rate package extending through fiscal year 2026.
“The Yorba Linda Water District is thrilled to receive this strong vote of confidence from one of the nation’s premier rating agencies. This AAA credit rating is a validation of YLWD’s strong fiscal policies and is a tremendous benefit to YLWD rate payers,” commented YLWD Board President, Trudi Kew DesRoches. “With this rating, future borrowing costs can be reduced, saving money for a generation of ratepayers.”
“Fitch’s revised AAA credit rating is also a testament to the dedication and hard work of the YLWD staff, particularly Assistant General Manager Doug Davert, Finance Manager Delia Lugo, and her talented team of financial experts,” stated YLWD General Manager, Mark Toy.
The AAA standard attained by YLWD serves as a symbol of excellence, reflecting the District’s ongoing efforts to uphold financial stability and excellence. To learn more about YLWD and our commitment to financial responsibility, call 714-701-3000.
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