Western Water Earns Highest ‘AAA’ Bond Rating from S&P Global Ratings by Western Municipal Water District (Western Water) Jun 4, 2025 Member Submitted News RIVERSIDE — Western Municipal Water District (Western Water) has received the highest possible financial rating—‘AAA’—from S&P Global Ratings, one of the country’s top credit rating agencies. This follows Western Water’s previous recognition by Fitch Ratings with an AAA rating. This top-tier rating places Western Water among the most financially strong, resilient, and well-managed agencies, indicating very low financial risk. It allows Western Water to borrow at the lowest possible interest rates, saving money over time as it issues debt to build and replace infrastructure, continuing its excellent water and sewer service legacy. S&P’s report credited Western Water’s strong financial practices, thoughtful rate-setting, and long-term investments in local water supplies. Over the past 20 years, Western Water has reduced its reliance on imported water from 100% to nearly 50% through groundwater, recycled water, and regional partnerships. “This upgrade reflects the Board’s leadership and our team’s long-term commitment to smart planning, regional partnerships, and financial transparency,” said Craig Miller, General Manager. “Most importantly, it benefits our customers.” Western Water’s upgraded rating helps support: Lower borrowing costs for future water and sewer projects, helping to manage long-term rate stability for customers. Stronger access to state and federal funding, including competitive grants for drought resilience, infrastructure, and conservation. A financially secure utility that can weather economic shifts, inflation, or regulatory changes while continuing to deliver service. Customer confidence in a well-managed, transparent agency focused on protecting public resources and keeping rates fair. “This rating shows that Western Water is financially strong and trusted by investors, both of which are essential as we continue investing in projects that expand our local resources, reduce our reliance on imported water, and strengthen the region’s water future,” said Board President Laura Roughton. ### Western Municipal Water District is one of the largest public agencies in Riverside County, providing water and wastewater (sewer) services to nearly 1 million people, both retail and wholesale customers who live, work, and play within 527-square miles in one of California’s most populous regions. Learn more: WesternWaterCA.gov.
