Bend Earns AA+ Credit Rating, Helping Keep Long-Term Water Costs Lower

From:
Jacob Larsen, Public Affairs & Communications Manager
541-647-0696,
jlarsen@bendoregon.gov

Bend Earns AA+ Credit Rating, Helping Keep Long-Term Water Costs Lower

Recently the City of Bend received a AA+ rating from the S&P Global, a top
credit rating agency. The rating can translate into lower long-term water
costs for community members and continued reliable water services.
“This rating is essentially our credit score,” said Dana Chenoweth, Water
Services Business Manager. “This tells lenders we are a low‑risk borrower,
which allows us to borrow at lower interest rates. For our ratepayers, that
translates into lower, long‑term costs.”
Maintaining this rating requires continued discipline in how the City delivers
capital plans and manages finances. The rating reflects confidence in Bend’s
management approach and ability to keep rates affordable even as the City
continues investing in infrastructure.
“The City is taking measures to conserve water and drive down water demand for
its customers, through public education and a tiered rate structure. It is
aware of the limitations of its future water rights, particularly those
pertaining to a surface water source that is shared among the City, other
private utilities serving the area, and surrounding municipalities,” according
to a S&P Global news release: Bend, OR Series 2026 Revenue Refunding Bonds
Assigned “AA+” Rating S &P Global
Ratings.
S&P highlighted Bend’s balanced water supply and conservation management
approach as key strengths, and noted continued improvement in financial
performance, supported by strong internal expertise and effective use of
external consultants.
“Earning this AA+ rating from S&P is a direct reflection of the hard work and
diligence by all of those involved in the operations of the City water
system,” said Bend’s Chief Financial Officer, Samantha Nelson. “From water
system leadership to finance staff to water system operators – the staff make
sure the clean water reliably flows every day.”
The City’s water comes from the Bend Municipal Watershed and the Deschutes
Regional Aquifer. For more information on Bend’s water system visit:
bendoregon.gov/water.
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