Saint Paul Sanitary Sewer Utility’s Path to AAA from BBB ‘Lower Cost Financing Yielding more Money for Projects’

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 Abstract

The ability to fund infrastructure needs and determine user rates is in large part driven by the financing costs. Financing costs can be significantly reduced by achieving higher credit ratings. This session will explore the factors and strategies to obtain higher credit ratings. The session will show techniques to position utility management, financial position and customer base to the credit rating agencies. A case study of the City of Saint Paul’s Sanitary Sewer Revenue Bond credit rating moving from the lowest investment grade level of BBB to one of only eight utilities nationally with the highest possible rating of AAA will illustrate applications of these techniques.

Keywords

Credit Rating, Utility Finance, Wastewater Revenue Bonds, AAA Rating

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