The Cobb County-Marietta Water Authority (CCMWA) announced today that Fitch Ratings has affirmed the ‘AAA’ rating on the Authority’s $49 million of outstanding revenue bonds. The Rating Outlook is Stable.
Bonds rated ‘AAA’ are judged to be of best quality and have the smallest degree of investment risk.
According to Fitch, the ‘AAA’ rating is based on CCMWA’s solid financial profile; low leverage ratios; affordable rates despite increases; and excellent management. CCMWA boasts rates among the lowest in the region, and charges are projected to remain very affordable relative to median household income throughout the next several years.
“CCMWA’s ‘AAA’ bond rating approval by Fitch signifies a sound financial outlook and confirms an excellent planning strategy for the future,” said Glenn Page, general manager of CCMWA.
CCMWA’s five-year capital program, which Fitch remarks as “a very manageable $253 million” and “predominantly cash funded (91% of total sources),” ensures up-to-date system improvements and will facilitate regulatory compliance.
Additional information is available by visiting www.fitchratings.com.
About the Cobb County – Marietta Water Authority
The Cobb County-Marietta Water Authority is the second largest provider of drinking water in Georgia. CCMWA provides treated drinking water on a wholesale basis to Cobb County, Paulding County, Douglasville-Douglas County Water and Sewer Authority, Cherokee County Water and Sewerage Authority, City of Marietta, City of Smyrna, City of Austell, City of Powder Springs, City of Mountain Park, City of Woodstock and Lockheed Martin Corporation. For more information, visit www.ccmwa.org.
