News

Fitch Ratings reviewed Olivenhain Municipal Water District’s revenue bonds on March 13 and determined that OMWD will maintain its AAA rating. Since 2016, OMWD’s revenue bonds have held the AAA rating, which is the highest grade awarded by Fitch Ratings, a global rating agency that offers independent credit opinions.

“The AAA rating is a validation of our efforts to set prudent rates and maintain adequate capital investments that generate a strong financial profile,” said Neal Meyers, OMWD board vice president and member of OMWD’s Finance Committee. “OMWD is proud to maintain this rating which will have lasting benefits for our customers.”

The AAA rating will allow OMWD to continue to finance improvement projects at lower interest rates. The lower interest rates will result in savings over time and help alleviate pressure to increase water rates from rising wholesale costs.