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CRW expresses interest in bond sale

Clackamas River Water is eyeing a credit rating upgrade in order to go out for a loan.

Currently, CRW has a single-A rating, but if they continue their upward mobility from last year, Wedbush Securites Vice President Katie Schwab told the board last week they likely would be upgraded to a double-A rating.

The board achieved a credit rating, which weighs debt revenue against debt service, of 2.64 in 2013, and Schwab thinks it will have a similar rating in 2014.

CRW board members expressed interest in purchasing a bond at their meeting June 11, but Schwab thinks they should wait a year.

“I would give it another year before a bond. One more year of really good numbers will make you that much better,” she said.

Schwab predicts that the bond’s interest rate would be about 3 percent if the board gains a double-A rating.

However, she says that based on the insight of national economists, interest rates will likely go up in 2015 or 2016.



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