Investor Ratings

Moody’s Assigns Erie Water Bonds “A1” Rating 
October 12, 2015 - Moody’s Investor Services issued their investor rating in anticipation of the Town’s refunding. Analysts from Moody’s reviewed a full-range of the Town’s creditworthiness, which included: Town management, financial position, debt management and economy and community demographics. As a result, Moody’s assigned the Town of Erie, Colorado, Water Enterprise Revenue Refunding Bonds Series 2015 with an “A1” rating. According to Moody’s: “The “A1” rating reflects the water enterprise's growing moderately-sized, affluent customer base and, solid debt service coverage.”

Town of Erie, Colorado, Water Enterprise Revenue Refunding Bonds Series 2015

Moody's affirms “A1” rating on Town of Erie Water Enterprise Revenue Bonds
November 20, 2014 - Moody's Investors Service has affirmed the ‘A1” rating on the Town of Erie, Colorado's Water Enterprise Revenue bonds, and removed the negative outlook. The favorable rating applies to $29.7 million in outstanding Moody's-rated debt. Affirmation of the “A1” rating reflects the water enterprise's growing, moderately-sized, affluent customer base and solid debt service coverage. The removal of the negative outlook reflects management's proactive approach to future water supply needs in light of the Town’s rapid growth.

View the Complete Moody’s Investment Services Report – Water Revenue Bonds

Erie Receives “AA” and “AA+” Bond Ratings from Standard & Poor’s

November 3, 2014 - Standard & Poor’s has assigned its “AA” rating, and stable outlook, to Erie, Colorado’s Certificates of Participation series 2010. Standard & Poor’s also affirmed its “AA+” rating with a stable outlook, on the Town’s General Obligation bonds outstanding. The “AA+” rating is one level below its highest AAA rating. According to Standard & Poor’s, the ratings reflect their assessment of the following factors for the Town, including but not limited to the following:

  • Very strong economy with projected per capita effective buying income
  • Very strong budgetary flexibility with reserves at about 49% of expenditures for fiscal 2013
  • Very strong Reserves for 2014 - projected to be $8.1 million, or 54% of expenditures
  • Budgetary performance has been strong overall
  • Very strong liquidity
  • Town's management conditions viewed as strong with good practices

View the Complete Standard & Poor’s Report – COP’s