WSSC Sells $250 Million in AAA Rated Bonds
OFFICE OF COMMUNICATIONS AND COMMUNITY RELATIONS
FOR IMMEDIATE RELEASE
Laurel – November 18, 2014: The Washington Suburban Sanitary Commission (WSSC) competitively sold $250 million of Consolidated Public Improvement Bonds today to J.P. Morgan Securities & Co. The bonds were issued at an average interest rate of 3.486094%.
The bonds were rated AAA by all three Bond Rating Agencies: Fitch Ratings, Moody’s Investors Service and Standard & Poor’s, which also reaffirmed WSSC’s AAA rating on its other outstanding bonds.
Six firms registered to bid on the bonds, with 4 placing competitive bids. The range of True Interest Cost (TIC) was from a low of 3.486094% to a high of 3.749238%.
For 100 years, WSSC has proudly served the citizens of Prince George’s and Montgomery counties – providing drinking water that has always met strict Safe Drinking Water Act standards and protecting the environment through vital water resource recovery services. Our vision is to be THE world-class water utility, where excellent products and services are always on tap.