COSTA MESA — Mesa Consolidated Water District has received top bond ratings from the Fitch Ratings and Standard & Poor rating firms, which will allow the district to finance future infrastructure projects at lower interest rates, district officials said in a news release.
Fitch rated all of Mesa Water's bonds at AAA, and Standard & Poor's gave the District an AAA rating on its outstanding senior debt — which was refinanced in 2009 — and an AA+ rating on Mesa Water's upcoming issuance, the release said. The district's bonds previously had been rated AA.
The AAA and AA+ bond ratings are among the highest available from the rating agencies, the release said. According to the release, these ratings will save money for Mesa Water customers in the coming years. The district will be in a position to finance future water infrastructure improvement projects at lower interest rates, thus reducing costs while increasing Mesa Water's service and supply reliability, and storage capacity.