KBRA Releases Report Affirming Ratings for City of San Diego (CA) Water System's Senior Water Revenue Bonds and Subordinate Water Revenue WIFIA Loans

On June 4, 2025, KBRA affirmed the long-term ratings of AA and AA-, with a Stable Outlook, for the City of San Diego (CA) Water System's Senior Water Revenue Bonds and Subordinate Water Revenue WIFIA Loans, respectively.

The Senior Water Revenue Bonds (the "Bonds") are issued by the Public Facilities Financing Authority of the City of San Diego and secured by installment payments made by the City of San Diego (the "City"). The City’s obligation to make the installment payments on the Bonds is secured by a senior net revenue pledge of the City’s water system revenues. The WIFIA Loans are secured by a subordinated net revenue pledge of the water system revenues.

To access ratings and relevant documents, click here.

Click here to view the report.