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EMS Has Major Benefit on Utility's Bond Rating 07/20/09 Contact: Julie Lemons Outreach Coordinator (321) 733-3064 lemonj@pbfl.org June 29, 2009 FOR IMMEDIATE RELEASE Palm Bay's Water and Sewer Improvement Bond Rating Raised to 'A' Palm Bay, FL - Standard & Poor's, the world's foremost source of credit ratings, indices, investment research, risk evaluation and data, announced last week that Palm Bay's Water and Sewer Improvement Bond Rating was raised from an 'A-' to an 'A' rating. The rating improvement may seem minor to most, but in these tough economic times it is an indicator of the Utilities Department’s stability and creditworthiness. "The upgrade reflects the maintenance of what we view as strong debt service coverage and liquidity levels," said Standard and Poor’s credit analyst Michael Taylor. The higher credit rating means that the Utility can borrow at a lower interest rate because it has been acknowledged to have lower risks to investors. Having the ability to borrow at a lower rate enables the City’s utility to stabilize customer costs and minimize rate increases. "This credit rating improvement is a true testimony of the strength of the management team within the utility and our commitment to become a world-class utility through continual improvement," commented Jason Yarborough, Utilities Director. Yarborough continued to say that the organization can also attribute much of the improved credit rating to the organization’s ISO 14001 certification and the Environmental Management System (EMS) that has been institutionalized throughout the organization. "Our EMS has played an integral role in better resource management and performance, which has had a noticeable impact on our bottom line," said Yarborough. The Palm Bay Utilities Department operates three water treatment facilities with a combined capacity to treat up to 15.5 million gallons of water per day. In addition, the Utilities Department operates one wastewater facility and one water reclamation facility. Palm Bay Utilities Department provides clean, safe, reliable drinking water to over 30,000 water customers and wastewater collection and disposal to almost 14,500 sewer customers. Palm Bay Utilities Department is an ISO 14001:2004 certified organization employing 119 professional and skilled employees. For more information about the Palm Bay Utilities Department please visit www.pbud.org or call (321) 952-3410. Associated Link: Palm Beach Utilities Department's website Read More News