WASHINGTON SUBURBAN SANITARY COMMISSION 14501 Sweitzer Lane, Laurel, Maryland 20707-5902. (301) 206-8100. Fax:(301) 206-8186. E-Mail:communications@wsscwater.com

WASHINGTON SUBURBAN SANITARY COMMISSION
SELLS AAA RATED BONDS WORTH $180 MILLION

WSSC Continues to Retain Coveted ‘AAA’ Bond Rating

LAUREL, MD (September 23, 2009): The Washington Suburban Sanitary Commission (WSSC) announced it has sold $180 million in 20-year general obligation bonds to Wachovia Bank, National Association. The sale was a combination of tax-exempt bonds and Build America Bonds (Direct Payment to Issuer) and, on a combined basis, the net interest rate to the Commission was 2.84%.

The sale was rated AAA by all three New York bond rating agencies: Fitch Ratings, Moody’s Investors Service and Standard & Poor’s. “The Triple-A bond rating from Fitch Ratings, Moody’s, and Standard & Poor’s reaffirms WSSC’s solid financial position,” said WSSC General Manager Jerry Johnson.

Fitch Ratings said “a consistent trend of conservative budgeting practices, healthy financial reserve policies, and multiyear forecasting of both operating and capital needs has strengthened” WSSC’s financial flexibility. Fitch said, “The long-term rating primarily reflects the wealth and extraordinary diversity of the [WSSC] district’s two-county tax base, Montgomery and Prince George’s counties (GO bonds rated AAA and AA+, respectively, by Fitch).”

###

Established in 1918, today WSSC is the 8th largest water and wastewater utility in the nation, with a network of more than 5,500 miles of fresh water pipeline and nearly 5,400 miles of sewer pipeline. Serving 1.8 million residents in Prince George’s and Montgomery Counties our drinking water has always met or exceeded federal standards.