Financial stability ensures a stable water economy
Mekorot knows how to maintain financial stability and soundness, even when making the immense investments necessary for the development, operation, and maintenance of a nationwide water system. Our financial soundness contributes to a stable water economy under all conditions and at all times.
Our professional and responsible management has met the test of years. We have always found the formula to create financial stability in the face of the challenging development targets of the water economy. As a result, we have achieved a record in the financial world: for nearly 20 years, we have had a continuous ilAAA rating from Standard & Poor’s Maalot.
On the basis of our financial reputation and the principle of balance, we will double the scope or development of the water economy in the coming years to strengthen its handling of prolonged droughts.
The financing for the investment in development will come from internal sources and bonds, which Mekorot has been issuing for many years. Before 2019, we issued bonds at attractive rates on the institutional market, including the raising of NIS 1 billion in foreign capital. In 2019, Mekorot began reporting on the Tel Aviv Stock Exchange (TASE), operating with full transparency pursuant to a supervised prospectus, for our first public bond issue.
In practice demand by both the business sector and the general public oversubscribed the supply of bonds that Mekorot has offered in every issue, testifying to the strong confidence in us. We are especially pleased from the impressive public confidence by water consumers for whom we ceaselessly manage, operate, and develop the water economy.
The diverse sources of income enable us to continue to expand the stability horizon of the water economy in the era of global warming, on the basis of financial soundness and protection of a stable financial horizon.