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Issue: Refunding Revenue Bonds, Series 2016A; Rating: Aa2; Rating Type: Underlying LT; Sale Amount: $112,425,000; Expected Sale Date: 10/05/2016; Rating Description: Revenue: Government Enterprise;
Summary Rating Rationale
Moody's Investors Service has assigned an Aa2 rating to West Basin Municipal Water District's (CA) senior lien Refunding Revenue Bonds, Series 2016A totaling approximately $112.4 million. We have also affirmed the Aa2 rating on the district's other outstanding senior lien revenue bonds including the Refunding Revenue Bonds, Series 2012A, Series 2011A, and Series 2011B. In this rating action, we have also affirmed the Aa3 rating on district's subordinate lien 2008B Refunding Revenue Certificates of Participation.