Bond Investors

In October 2023, Zone 7 issued bonds to finance the Chain of Lakes Ion Exchange PFAS Treatment Facility which will remove per- and polyfluoroalkyl substances from local groundwater.

In 2018, Zone 7 issued bonds to help fund upgrades at the Del Valle Water Treatment Plant, including the addition of ozone treatment now in operation to improve the efficiency, safety, taste and odor of our water treatment services.

Our sound financial practices and commitment to fiscal responsibility make Zone 7 a smart investment for our bond holders. We provide annual financial statements and continuing disclosures in this section, in compliance with all bond issuance regulations, and as part of our commitment to transparency.

The reports below, combined with the information provided in our bi-annual budget, financial documents and water rates sections, give our bond investors a complete financial picture of the agency and the confidence they need to rest assured their investment is secure.

Financial and Ratings Reports

The following reports were submitted during the current or previous fiscal year. Please note that information included in any reports is current only as of the date it was published. Also, the availability of a report on this website does not mean that changes have not been made. For example, portions of the obligations may have been refunded and are no longer outstanding, or information may be out of date. Updates may be published under various circumstances, particularly for variable rate debt.

Additional information may be found on the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access (EMMA) website. Searching by CUSIP number is the easiest way to find information on the EMMA website. The base CUSIP number(s) for the Agency’s debt are:

  • Livermore Valley Water Financing Authority Water Revenue Bonds, 2023 Series A –  Base CUSIP 53833P
  • Livermore Valley Water Financing Authority Water Revenue Bonds, 2018 Series A – Base CUSIP 53833P

Official Statements

Ratings Reports

Our credit ratings reports are issued by third party credit rating agencies and reflect Zone 7’s credit worthiness as a debt issuer.  On October 11, 2023, S&P Global Ratings (S&P) announced it has raised its long-term rating on the Agency’s outstanding 2018 Series A Water Revenue Bonds to ‘AAA’ from ‘AA+’.  ‘S&P also assigned a ‘AAA’ to the Agency’s 2023 Series A Water Revenue Bonds, with a stable outlook. AAA’ is the highest rating assigned by S&P. Fitch Ratings affirmed its ‘AA+” rating of the Agency and revised the rating outlook to ‘Positive’ from ‘Stable’.

These ratings reflect the Agency’s strong credit quality based on the following factors:

  • exceptionally strong water supply position, storing a significant amount of water in wet years for usage in dry years
  • very strong revenue source characteristics including fixed-charge rate structure, drought surcharge and regular Board review and implementation of rate adjustments
  • robust cash position and formal reserve policy
  • very low leverage despite potential future debt financing  of water supply reliability projects

You can read our full ratings reports here:

Other Important Financial Information