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S.C.V. History
August 15
1849 - Eight-pound gold nugget found in San Feliciano Canyon (Val Verde/Piru area) [story]
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SCV WaterCiting a stable outlook and very low operating cost burdens, Fitch Ratings has upgraded the overall credit rating of the Santa Clarita Water Agency to AA from AA-.

In addition, the rating on several debt obligations were upgraded as follows:

-$75 million in Certificates of Participation were upgraded to AA+ from AA

-$233.1 million in Revenue Bonds were upgraded to AA from AA-

In their comprehensive review, Fitch Ratings, an independent credit rating agency, has concluded that the Agency has a very strong capacity for payment of financial commitments, and is not significantly vulnerable to foreseeable events.

“The rating upgrade recognizes our very strong capacity for payment of financial commitments,” said Gary Martin, President of SCV Water Board of Directors. “At SCV Water, we work hard to be good stewards of our ratepayer’s money, and this rating means lower interest rates for us when we do need to turn to financing for certain capital improvement projects.”

This rating affirms the Agency’s capacity to absorb the additional debt issuance planned to implement the agency’s fiscal 2022-2026 capital improvement plan (CIP) and will allow SCV Water to continue to secure the best available interest rates for future debt financing requirements to meet infrastructure needs.

Projects in the CIP will address pipeline repair and replacement, emergency storage, and recycled water programs, as well as treatment to restore water capacity from wells closed due to PFAS contamination. The anticipated CIP totals $420 million, which SCV Water expects to fund with available reserves, pay as you go revenue from water rates, State and Federal grants and low interest loans, recovery of costs from responsible parties in groundwater contamination litigation, as well as an additional $175 million in debt.

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LATEST CITY HEADLINES
Wednesday, Aug 10, 2022
The city of Santa Clarita welcomes residents to dispose of their used tires at the free tire collection event on Saturday, Aug. 27 from 9 a.m. to 1 p.m. 
Tuesday, Aug 9, 2022
Residents throughout the city of Santa Clarita regularly take advantage of the miles of paved off-street trails available for walking, running and cycling safely without having to worry about the hazards posed by vehicle traffic.
Thursday, Aug 4, 2022
The Valley Industry Association has a keen interest in our local, state and federal elected officials.
Wednesday, Aug 3, 2022
The city of Santa Clarita owns and operates electric vehicle charging stations at ten locations throughout the city, which include a total of 25 charging ports.
Tuesday, Aug 2, 2022
The city of Santa Clarita is hosting a free document shredding event for all Santa Clarita residents on Saturday, Aug. 20, from 9 a.m. to 1 p.m. at the Centre’s lower parking lot, located at 20880 Centre Pointe Parkway.

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Latest Additions to SCVNews.com
1849 - Eight-pound gold nugget found in San Feliciano Canyon (Val Verde/Piru area) [story]
map
1986 - Canyon Country's Mitchell adobe demolished; components salvaged & later rebuilt at Heritage Junction [story]
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1961 - First Mass celebrated at new Our Lady of Perpetual Help Catholic Church (3rd building) in Newhall. Cardinal McIntyre attends [story]
OLPH
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1944 - Newhall Refinery on Sierra Highway destroyed by fire (then rebuilt) [watch film]
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2018 - Big Oaks Lodge in Bouquet Canyon burns down [video]
Big Oaks Lodge
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