Who We Are
Bond Ratings
Current Bond Ratings
| Moody's Investors' Service | Aa2 |
|---|---|
| Standard & Poor's Corporation | AA |
| Fitch Ratings | AA |
History of DC Water's Bond Ratings
| Moody's Investment Service | |
|---|---|
| April 2010 | Aa2 |
| April 2008 | Aa3 |
| April 2007 | Aa3 |
| June 2003 | Aa3 |
| April 2000 | A1 |
| April 1998 | A2 |
| Standard & Poor's Corporation | |
| April 2008 | AA |
| May 2007 | AA- |
| June 2003 | AA- |
| May 2000 | A |
| April 1998 | A- |
| Fitch Ratings | |
| April 2010 | AA |
| April 2008 | AA- |
| April 2007 | AA- |
| June 2003 | AA- |
| June 2000 | A+ |
| July 1999 | A |
| April 1998 | A- |
Historical Bond Issuance
The Authority has issued seven series of senior and/or subordinate lien debt and implemented a $225 million commercial paper program, illustrated in the table below:
| Description | Balance 9/30/2009 |
|---|---|
| Notes payable to the federal government for Jennings Randolph Reservoir (Bloomington Dam); interest at 3.45%, maturing in 2041 | 15,232 |
| Notes payable to WSSC for Little Seneca Lake; interest ranges from 5.98% to 6.60% maturing in 2014 | 179 |
| District of Columbia general obligation bonds | |
| 1993; interest at 5.40% to 6.0% maturing in 2012 | 3,255 |
| 1994; interest at 5.05% to 6.50% maturing in 2011 | 1,925 |
| Public utility senior lien revenue bonds | |
| 1998; interest ranges from 5.50% to 6.00%, maturing in 2028 | 248,705 |
| 2009A; interest ranges from 3.00% to 6.00%, maturing in 2039 | 300,000 |
| Public utility subordinated lien revenue bonds | |
| 2003; interest ranges from 5.0% to 5.25%, maturing in 2033 | 176,220 |
| 2007A; interest ranges from 4.75% to 5.50% maturing in 2041 | 218,715 |
| 2008A; interest ranges from 4.0% to 5.0%, maturing in 2034 | 290,375 |
| Total Bonds and Notes | 1,254,606 |
As of February 2010, the Authority had $569 million of senior lien debt outstanding and $685 million of subordinate lien debt outstanding. As of February 2010, DC Water has $29.2 million in taxable commercial paper outstanding.
In addition to outstanding revenue bonds, the current Authority debt outstanding includes notes payable to the Federal government for the Washington Aqueduct and Jennings Randolph Reservoir, notes payable to the Washington Suburban Sanitary Commission for the Little Seneca Lake Reservoir; and District of Columbia General Obligation bonds.