On behalf of the West Basin Municipal Water District, I would like to welcome you to our new investor relations website. We appreciate your interest and investment in bonds issued by the District, as it allows us to make critical investments in public infrastructure throughout the region. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.
I hope you find this website useful as you seek to better understand the credit fundamentals of the West Basin Municipal Water District. Please do not hesitate to contact our office with suggestions for how we can be doing better. Thanks again for your interest in our bond program.
Margaret Moggia, Chief Financial Officer
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.
Recent West Basin Municipal Water District Press Releases