AlexRenew Receives Highest Credit Rating from S&P for Green Bond Issuance
The green bonds will support infrastructure upgrades at AlexRenew’s water resource recovery facility, reflecting AlexRenew’s ongoing commitment to sustainability and the environmental benefits of these investments.
“AlexRenew’s rating illustrates its strong financial profile and sound management practices,“ explains AlexRenew’s Board Chair John Hill. “This exceptional credit rating, will allow AlexRenew to secure lower-cost financing, resulting in savings for customers.”
S&P noted several key factors in assessing AlexRenew’s creditworthiness, including: “the acquisition of affordable, flexible financing for major capital funding; management’s success in receiving grant funds; and sophisticated management strategies that are well embedded in the operating and financial culture at the utility.”
The green bond sale will fund $50 million in capital projects and is anticipated in early June.