Source: www.acwa.com

EMWD’s Financial Leadership Earns AAA Ratings

Fetched 2026-07-21 08:01 from www.acwa.com

Reading Summary (AI-generated)

Reading Summary: EMWD’s Financial Leadership Earns AAA Ratings

Key Facts

Eastern Municipal Water District (EMWD) received AAA ratings from both Fitch Ratings and S&P Global Ratings for its Series 2026A and Series 2026B refunding water and wastewater revenue bonds.
Rating agencies cited EMWD’s “exceptionally strong” financial profile and customer affordability as primary drivers.
EMWD has secured approximately $900 million in state and federal grants over the past 25 years, reducing cost burdens on ratepayers.
Key financial strengths include a diverse water supply portfolio, an allocation-based rate structure, and balanced reserves and debt ratios.
EMWD is California’s sixth-largest retail water agency, serving over one million people across a 682-square-mile service area in western Riverside County and northern San Diego County.

Who Is Affected

Ratepayers in western Riverside County and northern San Diego County
EMWD Board, led by President Stephen Corona
Bondholders and capital markets investors financing water infrastructure

Policy/Legal Angle

No specific laws or regulations are cited; the article focuses on financial governance practices, particularly allocation-based rate structures — a rate-setting model with relevance to California’s broader water conservation pricing policy debates.

Blog Angles

Allocation-based rates as a financial tool: EMWD’s rate structure is specifically credited as a factor in its AAA rating — worth examining whether other California agencies using tiered or allocation-based pricing see similar credit benefits.
$900 million in grants over 25 years: What programs funded this? How does EMWD’s grant-capture success compare to similarly sized agencies, and what does it reveal about disparities in external funding access across California water districts?
AAA ratings and infrastructure financing costs: With California facing a massive water infrastructure funding gap, how much do strong credit ratings actually save ratepayers, and which districts are most vulnerable to higher borrowing costs?

Full Text

EMWD’s Financial Leadership Earns AAA Ratings

Member Submitted News

PERRIS — Eastern Municipal Water District (EMWD)’s commitment to financial excellence on behalf of its customers has helped it maintain its AAA ratings by Fitch Ratings and S&P Global Ratings.

Fitch and S&P have assigned AAA ratings to EMWD’s Series 2026A and Series 2026B refunding water and wastewater revenue bonds and affirmed EMWD’s AAA-Rating with a Stable Outlook. The rating agencies cited EMWD’s “exceptionally strong” financial profile and customer affordability as driving factors in the overall rating actions.

EMWD’s strong financial standing is the result of a wide range of factors, including a diverse water supply portfolio, its allocation-based rate structure, and financial practices that balance reserves and debt ratios.

EMWD’s strong credit rating profile helps EMWD obtain lower-cost financing for infrastructure investments, which results in cost savings for customers.

EMWD is also a national leader in securing external funding and has received approximately $900 million in state and federal grants in the past 25 years. This further reduces financial impacts on customers by returning tax dollars to their communities.

“We have a responsibility to act in the best financial interest of our customers, who have entrusted us as stewards of their water district,” EMWD Board President Stephen Corona said. “EMWD is dedicated to providing our customers with an exceptional value, including through sound financial management and a commitment to transparency.”

Eastern Municipal Water District is the water, wastewater service, and recycled water provider to more than one million people living and working within a 682-square mile service area in western Riverside County and northern San Diego County. It is California’s sixth-largest retail water agency, and its mission is “To deliver value to our diverse customers and the communities we serve by providing safe, reliable, economical and environmentally sustainable water, wastewater, and recycled water services.” More information can be found at www.emwd.org .

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