The City of Kelso announced the affirmation of Standard & Poor's Ratings Services “AA-“ long-term rating on the City’s Series 2010A & 2010B water and sewer revenue bonds. (The Series 2010B securities are taxable recovery zone economic development bonds). The Ratings Service stated that the City’s general outlook is “stable.”
Standard & Poor’s rating is based on the City’s very strong annual debt service coverage, very strong system liquidity, competitive utility rates, and stable residential customer base.
“We are very pleased with the City’s affirmation from the bond rating agency. This is yet another indication that Kelso’s elected leadership and City staff have been fiscally responsible in managing limited utility resources despite these tough economic times,” said City Manager Steve Taylor.
All Kelso water and sewer ratepayers benefit from this rating in the form of obtaining lower interest rates for the issuance of City debt which translates into more competitive utility rates.
The S&P Ratings Services report and letter to the City of Kelso can be viewed by clicking the links below: