KBRA Releases Rating Report for the City of San Diego’s WIFIA Loan
NEW YORK--(BUSINESS WIRE)--Nov 13, 2018--On November 9, 2018, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA with a Stable Outlook to the City of San Diego, CA North City Project WIFIA Loan, which is a subordinate obligation of the City’s Water Utility Fund. The City of San Diego is undertaking a significant project using advanced water purification technology to produce potable water from recycled water. The program, entitled Pure Water, is an integral piece of the City’s long-term goal of enhancing local water supply while also decreasing its reliance on imported water. The Pure Water program also yields environmental and sustainability benefits that are part of the City’s long-range water management and climate action plans.
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KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
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Kroll Bond Rating Agency
Andrew Clarke, 646-731-2380
Patricia McGuigan, 646-731-3350
Justin Schneider, 646-731-2453
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Kroll Bond Rating Agency
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PUB: 11/13/2018 05:01 PM/DISC: 11/13/2018 05:01 PM