KBRA Releases Report Assigning AA+ and Stable Outlook to Public Facilities Financing Authority of the City of San Diego Senior Water Revenue Bonds Series 2020 A&B

NEW YORK–(BUSINESS WIRE)–On April 20, 2022, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA+ and Stable Outlook to the Public Facilities Financing Authority of the City of San Diego Senior Water Revenue Bonds Series 2020A (Tax-Exempt) and Series 2020B (Federally Taxable). KBRA additionally affirmed the long-term rating of AA and Stable Outlook on the City of San Diego, CA Pure Water San Diego Phase 1 North City Project WIFIA Loan (Subordinate Obligation).

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A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the U.S. Information Disclosure Form located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the U.S. Information Disclosure Form referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.



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