S&P Global Ratings raises long term bond rating from ‘AA-‘ to ‘AA+’, a double-upgrade.

On December 17th, the MRWMD Board of Directors received the good news that S&P Global Ratings raised its long-term rating two notches from ‘AA-‘ to ‘AA+’ on the Monterey Regional Waste Management Authority (MRWMA), California’s Integrated Waste Management System Revenue Refunding Bonds, Series 2021 (Federally Taxable-Green Bonds).

According to the District’s bond underwriter, Loop Capital Markets, the District’s AA+ bond rating is among the highest rating for a pure revenue-backed solid waste agency in the Country and that receiving a double-upgrade is rare and getting a double bump to AA+ is exceptional.

Upon hearing the good news, General Manager, Tim Flanagan shared that “this impressive rating is a testament to the work that the entire MRWMD team accomplishes every day. The District’s rating is reflective of its sound fiscal management, operational excellence, and beneficial strategic planning that has  the District having the second-lowest rate for service in a 100-mile radius.”

Learn more in the S&P Rating Report.