Who We Are
Bond Ratings
Current Senior Bond Ratings
| Moody's Investors' Service | Aa2 |
|---|---|
| Standard & Poor's Corporation | AA |
| Fitch Ratings | AA |
History of DC Water's Senior Bond Ratings
| Moody's Investment Service | |
|---|---|
| October 2010 | Aa2 |
| April 2010 | Aa2 |
| April 2008 | Aa3 |
| April 2007 | Aa3 |
| June 2003 | Aa3 |
| April 2000 | A1 |
| April 1998 | A2 |
| Standard & Poor's Corporation | |
| October 2010 | AA |
| April 2008 | AA |
| May 2007 | AA- |
| June 2003 | AA- |
| May 2000 | A |
| April 1998 | A- |
| Fitch Ratings | |
| October 2010 | AA |
| 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 eight series of senior and/or subordinate lien debt and implemented a $225 million commercial paper program, illustrated in the table below:
| Description | Balance 5/31/2011 |
|---|---|
| Notes payable to the federal government for Jennings Randolph Reservoir (Bloomington Dam); interest at 3.45%, maturing in 2041 | 14,922 |
| Notes payable to WSSC for Little Seneca Lake; interest ranges from 5.98% to 6.60% maturing in 2014 | 103 |
| District of Columbia general obligation bonds | 245 |
| Public utility senior lien revenue bonds | |
| 1998; interest ranges from 5.50% to 6.00%, maturing in 2028 | 239,270 |
| 2009A; interest ranges from 3.00% to 6.00%, maturing in 2039 | 300,000 |
| Public utility subordinated lien revenue bonds and Commercial Paper | |
| 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 | 290,000 |
| 2010A; interest ranges from 4.07% to 5.52%, maturing in 2044 | 300,000 |
| Commercial Paper, Series A-1 (Taxable) | 29,200 |
| Total Bonds, Notes, and Commercial Paper | 1,568,675 |
As of May 2011, the Authority had $539 million of senior lien debt outstanding and $1.03 billion of subordinate lien debt outstanding. As of May 2011, 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.