- About
- 2021.02.17 JEA Announces New Leadership Team
- 2021.03.11 JEA Receives First Place Safety Award from Florida Municipal Electric Association
- 2021.06.15 JEA Names Theodore B. Phillips Chief Financial Officer
- 2021.07.13 JEA Announces New COO and VP of Financial Services
- 2021.08.17 JEA Builds Out Leadership Team with Hiring of Chief External Affairs Officer
- 2021.09.15 JEA Names New Chief Information Officer, VP of Technical Services
- 2021.09.30 Ricky Erixton, JEA Vice President of Electric Systems, Named to SERC Reliability Board of Directors
- 2021.09.30 Ricardo “Rick” Morales III Appointed to JEA Board of Directors
- 2021.11.03 JEA Receives Statewide Recognition for Programs that Build Community
- 2022.01.06 JEA Names its First Director of Diversity, Equity & Inclusion
- 2022.01.07 JEA Reducing Carbon Emissions with Closure of Plant Scherer Coal-fired Unit
- 2022.01.17 Statement on Holiday Road Sewer Overflow
- 2022.01.27 JEA Names Mark Stultz Vice President, Communications
- 2022.02.11 JEA Honored as Outstanding Utility by Florida Urban Forestry Council
- 2022.04.08 Steven Selders Promoted to JEA Vice President, Application Delivery and Enterprise Architecture
- 2022.04.26 JEA Managing Director & CEO Jay Stowe, Appointed to Electricity Subsector Coordinating Council
- 2022.06.01 JEA Partnering with Customers to be Ready for 2022 Hurricane Season
- 2022.06.08 JEA Announces Next Generation of Customer Experience Delivery
- 2022.06.13 JEA Presents Environmental Stewardship Award to Evoqua Water Technologies
- 2022.07.26 JEA to Suspend Electric, Water Disconnections During Peak of Summer Heat
- 2022.08.27 Precautionary Boil Water Advisory Remains in Effect for Sandalwood Area as JEA Continues Testing
- 2022.08.28 JEA Lifts Boil Water Advisory for Sandalwood Area
- 2022.09.26 JEA Prepares for Hurricane Ian, Response Procedures in Place
- 2022.09.27 JEA Prepared to Respond to Hurricane Ian Impacts
- 2022.09.28 JEA Welcomes Mutual Aid Response to Hurricane Ian
- 2022.09.29 JEA Crews Restoring Power Throughout Jacksonville
- 2022.10.03 JEA Names Pedro Melendez Vice President, Planning, Engineering & Construction
- 2022.10.20 JEA Honors Local Agency Partners for Their Work in the Community
- 2022.11.04 JEA Receives Statewide Recognition for Community Work in Northeast Florida
- 2022.11.08 JEA Prepares for Subtropical Storm Nicole
- 2022.11.11 All Storm Restorations Continue Today; JEA to Lift Limited Emergency Operations
- 2022.12.12 JEA Women's, Men's Teams Win Top Honors at Statewide Water Competition
- 2022.12.20 JEA Offers Tips in Advance of Severe Cold Weather
- 2022.12.24 JEA Offers Tips During Severe Cold Weather
- 2023.01.10 JEA Receives Statewide Recognition for Mutual Aid Work
- 2023.03.06 JEA Receives Statewide Recognition for Safety
- 2023.03.07 New JEA HQ Customer Center to Open April 10
- 2023.04.06 JEA Lineworkers Earn Top Honors at International Lineman’s Rodeo
- 2023.04.25 Community Invited to May 25 Public Forum on Northeast Florida’s Energy Future
- 2023.05.01 JEA Receives Recognition for Commitment to Urban Tree Management
- 2023.05.18 JEA's Long-Range Clean Energy Plan Available to Public
- 2023.05.26 JEA Ready for 2023 Hurricane Season, Offers Tips to Help Customers Prepare
- 2023.06.05 Helen Materazzi Named JEA Vice President, Organizational Effectiveness
- 2023.06.14 JEA Upgrading Water Meters for All Customers
- 2023.06.15 JEA Crews Heading to Tallahassee to Assist with Storm Restoration
- 2023.06.26 JEA Presents Environmental Stewardship Award to 29 Local Companies
- 2023.07.14 JEA Launches Fleet Vehicle Electrification Program
- 2023.08.22 JEA Issues Precautionary Boil Water Advisory for South Philips Highway and Nocatee Area, Encourages All Customers to Conserve
- 2023.08.22 Chief Human Resources Officer, VyStar Credit Union
- 2023.08.23 Precautionary Boil Water Advisory Remains in Effect for South Philips Highway, Nocatee Area, JEA Continues to Encourage All Customers to Conserve
- 2023.08.24 JEA Lifts Precautionary Boil Water Advisory for South Philips Highway, Nocatee Area
- 2023.08.28 JEA Prepares for Tropical Storm Idalia Encourages Customers to Be Ready
- 2023.08.30 JEA Responding to Customers Due to Hurricane Idalia
- 2023.11.15 JEA Receives Top Ranking in 2023 Business Satisfaction Survey by J.D. Power
- 2023.11.07 JEA Receives Statewide Recognition for Programs That Enhance the Community
- 2023.11.20 Juli Crawford Promoted to JEA Vice President, Enterprise Strategy & Planning
- 2023.11.28 JEA and UNF Advance Sustainable Solutions at Lab Opening
- 2024.01.09 Bond Rating Agencies Affirm Strong Financial Status for JEA Water Services
- 2024.01.30 JEA Hosts FMEA Lineman Competition
- 2024.01.31 JEA Honored with Statewide Award for Mutual Aid Assistance
- 2024.02.26 JEA Lineworkers Earn Top Prizes at Florida Lineman Competition
- 2024.04.08 Kim Wheeler Names JEA Vice President Operations Support
- 2024.04.15 JEA Board Names Vickie Cavey Interim Managing Director and CEO
- 2024.04.23 JEA Launches Project to Expand Existing Lead Pipe Safeguards
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- 2024.01.09 Bond Rating Agencies Affirm Strong Financial Status for JEA Water Services
Bond Rating Agencies Affirm Strong Financial Status for JEA Water Services
2024-01-09
JACKSONVILLE, FL, Jan. 9, 2024 –Three leading independent financial rating agencies have provided solid ratings of JEA’s upcoming bond issuance and on outstanding Water and Sewer System Senior and Subordinated Bonds in the past week. Each agency’s ratings represent the second- or third-strongest available from that agency.
“The assessments reflect confidence in JEA’s board and management,” JEA Managing Director and CEO Jay Stowe said. “As the ratings from all three agencies show, we are producing solid financial results as we continue to improve lives and build community in Northeast Florida.”
Moody’s Investors Service assigned an Aa2 rating to the bond offering, which is expected to consist of approximately $500 million in water and sewer revenue bonds to fund capital projects and refund outstanding debt for savings. Moody’s also affirmed the Aa2 ratings on the utility’s outstanding water and sewer bonds. Additionally, Moody’s revised JEA’s Water and Sewer outlook to positive from stable, citing "strong management."
Fitch Ratings assigned an AA+ rating on the bond offering and the utility’s water and sewer system bonds. Fitch, a major international financial research and assurance company, described JEA’s combined systems as having a “very strong revenue defensibility assessment, strong historical financial performance and very low leverage.”
Standard & Poor’s (S&P) issued a report declaring JEA’s outlook as “stable.” S&P affirmed JEA’s AA+ rating for water and sewer senior-lien revenue bonds and AA rating on subordinate revenue bonds. Also, S&P affirmed its AA+ and AA respective ratings for each lien on the long-term portions of various variable-rate demand obligations.
About JEA
JEA is a not-for-profit, community-owned utility that provides safe, reliable and affordable services to more than one million residents across four Northeast Florida counties. JEA is not owned by investors. It was created by the City of Jacksonville to meet the electricity and water needs of those who live in Jacksonville and surrounding communities. JEA’s workforce of nearly 2,200 team members is dedicated to ensuring the demands of its customers are met, both today and for generations to come, while protecting our precious natural resources and supporting our region’s growth and economic development.
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2023.06.14 JEA Upgrading Water Meters for All Customers
Jacksonville -- This week, JEA will begin a transition to upgraded water meter technology, to ensure that all water users have more information about the amount of water they use and to help improve customer service.