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PUD Bond Rating Affirmed
Moody’s Investors Service issued a bond rating of Aa3 for Clallam PUD’s outstanding revenue bonds, reaffirming a stable outlook.
Moody’s reported, “The Aa3 rating primarily reflects the district’s stable and rural service area, solid debt service coverage with low debt load, and satisfactory legal provisions. Management also consistently adheres to sound financial goals.”
David Papandrew, the PUD’s Treasurer/Controller said, “We are pleased that Moody’s confirmed our current ratings. We work hard as a District to remain financially sound, and good bond ratings are especially important as we look to improve facilities, reliability, and service in the future.”
The bond rating agency provides independent credit ratings, indices, risk evaluation, and company valuations.
In affirming the PUD’s bond rating, Moody’s acknowledged the District’s successful management, a positive financial position, good risk management, and a Board of Commissioners that is willing to implement rate adjustments as necessary to protect the District.
Read the Moody’s report here: https://www.moodys.com/research/Moodys-assigns-Aa3-rating-to-Clallam-Public-Utility-District-No–PR_309983