Financial Responsibility
Credit Rating
Water Authority Bond Ratings
As of June 30, 2017| Rating Agency | Senior Lien Ratings* | Subordinate Lien Ratings | Outlook |
|---|---|---|---|
| Standard and Poor's (S&P) | AAA | AA+ | Stable |
| Fitch | AA+ | AA | Stable |
| Moody's | Aa2 | Aa3 | Stable |
*Senior lien ratings include the Water Authority's Revenue Bonds and Certificates of Participation.
Fitch and S&P Financial Metrics
As of June 30, 2017| Rating Category* | ||||
|---|---|---|---|---|
| AAA | AA | Water Authority Rating | ||
| S&P | Fitch | S&P(1) | Fitch(1) | |
| Senior Lien Debt Service Coverage | 3.11X | 2.8X | 1.58X | 1.55X |
| All-In Debt Service Coverage | 2.28X | 2.3X | 1.5X | 1.49X |
| Days Cash on Hand | 448 | 499 | 269 | 329 |
(1) Based on metrics provided by S&P and Fitch rating agencies
* Average (median) of all agencies