SAN DIMAS, Calif.--(BUSINESS WIRE)--Jul. 24, 2014--
American States Water Company (NYSE:AWR) today announced that Standard &
Poor’s Ratings Services (“S&P”) revised its rating outlook to positive
from stable on both American States Water Company and its wholly-owned
subsidiary Golden State Water Company. S&P also affirmed the ‘A+’ credit
rating on both companies.
According to S&P’s July 21, 2014 press release, the revised outlook to
positive reflects the possibility that the Company will continue to
improve its financial measures so that they are more consistently at the
lower-end of the "modest" financial risk profile category defined by
S&P. The press release also noted that the change in the outlook
reflected the Company's strong management of regulatory risk in
California.
S&P’s corporate credit ratings range from AAA (highest rating possible)
to D (rating for default), reflecting S&P’s opinion of a company’s
overall capacity to meet its financial obligations. Credit ratings are
not recommendations to purchase, sell or hold a security and are subject
to change or withdrawal at any time by the rating agency.
Certain matters discussed in this news release with regard to the
Company’s expectations may be forward-looking statements that involve
risks and uncertainties. The assumptions and risk factors that could
cause actual results to differ materially, include those described in
the Company’s Form 10-Q and Form 10-K filed with the Securities and
Exchange Commission.
American States Water Company is the parent of Golden State Water
Company and American States Utility Services, Inc. Through its utility
subsidiary, Golden State Water Company, AWR provides water service to
approximately 257,000 customers throughout 10 counties in Northern,
Coastal and Southern California. The Company also distributes
electricity to approximately 24,000 customers in the Big Bear
recreational area of California. Through its contracted services
subsidiary, American States Utility Services, Inc., the Company provides
operations, maintenance and construction management services for water
and wastewater systems located on military bases throughout the country
under 50 years privatization contracts.
American States Water Company has paid dividends to shareholders every
year since 1931, increasing the dividends received by shareholders each
calendar year since 1954.
Source: American States Water Company
American States Water Company
Eva G. Tang, 909-394-3600, ext. 707
Senior
Vice President, Chief Financial Officer
Treasurer and Corporate
Secretary