KBRA Assigns AAA Rating with Stable Outlook to Las Vegas Valley Water District Bonds
KBRA has assigned a long-term rating of AAA with a Stable Outlook to the Las Vegas Valley Water District, Nevada's General Obligation (Limited Tax) Water Improvement Bonds, Series 2026C, and General Obligation (Limited Tax) Water Refunding Bonds, Series 2026D. Concurrently, KBRA affirmed the AAA rating and Stable Outlook for the District's existing parity limited tax general obligation debt. The proceeds from the Series 2026C Bonds will fund projects within the Southern Nevada Water Authority's (SNWA) capital improvement plan, including upgrades to pumping stations, reservoirs, wells, and water pipelines. The Series 2026D Bonds will be used to refund certain outstanding District obligations. These bonds are direct and general obligations of the District, backed by its full faith and credit, and are payable from any legally available funds, including ad valorem property taxes if necessary. KBRA's rating is based on the District's strong economic and property tax base, experienced management, and successful ...