Las Vegas Valley Water District, NV – G.O. Rating Report
Rating Summary
The rating for the Las Vegas Valley Water District (the District) reflects the District’s broad and diverse economic and property tax base that encompasses nearly all of Clark County (the County), including the City of Las Vegas (the City), providing significant resources for District operations and a modest debt burden relative to the property tax base. The District’s long-tenured and experienced management team; sophisticated long-term financial and capital planning processes; and sound financial operations, characterized by strong debt service coverage and significant liquidity further support the rating.
The arid conditions of the Southwestern United States and the long-term constraints on the water supply in the Colorado River Basin1 are also a consideration in the rating as these conditions may lead to reduced water availability and increasingly stringent limits on water use that could constrict the regional economy over time.…
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