Published Nov. 9, 2015
Renewable Water Resources has received a double-A-plus credit rating from Standard & Poor’s. Renewable Water Resources provides sewer infrastructure to industrial, commercial and residential customers in the Upstate.
Standard & Poor’s Rating Services raised the senior lien rating to double-A-plus and “affirmed its AA rating, with a stable outlook” on the company’s junior lien debt.
According to Renewable Water Resources, “a good credit rating makes it easier and less expensive to borrow money. ReWa’s bond ratings are considered ‘high’ grade, meaning the agency has a very strong capacity to meet financial requirements.”
The company has an Aa3 rating from Moody’s Investors Service for $68.8 million Sewer System Refunding Revenue Bonds, Series 2012. Moody’s has also reaffirmed the Aa2 rating on $215 million of outstanding senior lien debt and the Aa3 rating on $80 million of outstanding parity debt, according to Rewa’s website.
Renewable Water Resources serves more than 400,000 industrial, commercial and residential customers in Greenville, Anderson, Spartanburg, Pickens and Laurens counties.