Union Sanitary District (USD) is pleased to announce it has received Standard & Poor’s (S&P) AAA rating, its highest available. The District presented information to S&P to obtain a credit rating in preparation for selling approximately $193 million in short-term bonds (interim notes) as part of the District’s strategy for funding its Capital Improvements Program (CIP), which includes the Enhanced Treatment and Site Upgrade (ETSU) Program. The District’s 20-Year CIP budget is over $1.65 billion and includes projects that address current critical needs while preparing for the future.
S&P’s report noted the District’s “good operational management practices and policies … including the district’s proactive management of evolving regulatory requirements in the long term,” as well as its “strong financial management practices and policies, indicating the highest level of internal financial controls and best practices are in place.”
“This credit rating is reflective of the efforts of the Board of Directors for their prudent and conservative fiscal policies and the efforts of all District employees to provide the most value to ratepayers,” said General Manager Paul Eldredge. “Bond funding is an integral component of USD’s strategy that helps keep the rates as low as possible for customers while implementing significant capital programs that will continue the District’s long tradition of providing responsible, reliable service for decades to come.”