{"id":767769,"date":"2023-07-05T11:03:15","date_gmt":"2023-07-05T15:03:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/american-states-water-company-and-golden-state-water-company-announce-new-credit-agreements\/"},"modified":"2023-07-05T11:03:15","modified_gmt":"2023-07-05T15:03:15","slug":"american-states-water-company-and-golden-state-water-company-announce-new-credit-agreements","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/american-states-water-company-and-golden-state-water-company-announce-new-credit-agreements\/","title":{"rendered":"American States Water Company and Golden State Water Company Announce New Credit Agreements"},"content":{"rendered":"

<\/p>\n

American States Water Company and Golden State Water Company Announce New Credit Agreements<\/b><\/p>\n

SAN DIMAS, Calif.–(BUSINESS WIRE<\/a>)–
\nAmerican States Water Company (NYSE:AWR) and its regulated water utility subsidiary, Golden State Water Company (\u201cGSWC\u201d), announced that on June 28, 2023 they had each entered into new credit agreements with a term of five years provided by a syndicate of banks and financial institutions. These syndicated credit facilities replace AWR\u2019s previous credit agreement with a sole bank dated June 3, 2005, as amended and restated.<\/p>\n

\nAWR\u2019s credit agreement provides for a $150 million unsecured revolving credit facility to support AWR parent and its contracted services subsidiary, American States Utility Services, Inc. (\u201cASUS\u201d). GSWC\u2019s separate credit agreement provides for a $200 million unsecured revolving credit facility to support its operations and capital expenditures. Both credit facilities may be expanded up to an additional amount of $75 million, subject to the lenders\u2019 approval. The credit agreements contain covenants and events of default customary for credit facilities of these type.<\/p>\n

\n\u201cWe are pleased to have been able to successfully put in place these two syndicated credit facilities,\u201d said Robert J. Sprowls, President and CEO of American States Water Company and GSWC. \u201cThe credit facilities will provide the company with flexibility in meeting its day-to-day working capital demands and as additional support for our infrastructure investment programs at both GSWC and ASUS.\u201d<\/p>\n

Forward Looking Statements<\/b><\/p>\n

\nCertain matters discussed in this news release with regard to the company\u2019s 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\u2019s Form 10-Q and Form 10-K filed with the Securities and Exchange Commission.<\/p>\n

About American States Water Company<\/b><\/p>\n

\nAmerican States Water Company is the parent of Golden State Water Company, Bear Valley Electric Service, Inc. and American States Utility Services, Inc., serving over one million people in nine states. Through its water utility subsidiary, Golden State Water Company, the company provides water service to approximately 263,400 customer connections located within more than 80 communities in Northern, Coastal and Southern California. Through its electric utility subsidiary, Bear Valley Electric Service, Inc., the company distributes electricity to approximately 24,700 customer connections in the City of Big Bear Lake and surrounding areas in San Bernardino County, California. Through its contracted services subsidiary, American States Utility Services, Inc., the company provides operations, maintenance and construction management services for water distribution, wastewater collection, and treatment facilities located on eleven military bases throughout the country under 50-year privatization contracts with the U.S. government.<\/p>\n

\nAmerican States Water Company has paid dividends to shareholders every year since 1931, increasing the dividends received by shareholders each calendar year since 1954.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230703164124\/en\/<\/a><\/span><\/p>\n

\nEva G. Tang
\n
Senior Vice President – Finance, Chief Financial
\n
Officer, Corporate Secretary and Treasurer
\n
(909) 394-3600, extension 707<\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Energy Natural Resources Utilities Other Natural Resources<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

American States Water Company and Golden State Water Company Announce New Credit Agreements SAN DIMAS, Calif.–(BUSINESS WIRE)– American States Water Company (NYSE:AWR) and its regulated water utility subsidiary, Golden State Water Company (\u201cGSWC\u201d), announced that on June 28, 2023 they had each entered into new credit agreements with a term of five years provided by a syndicate of banks and financial institutions. These syndicated credit facilities replace AWR\u2019s previous credit agreement with a sole bank dated June 3, 2005, as amended and restated. AWR\u2019s credit agreement provides for a $150 million unsecured revolving credit facility to support AWR parent and its contracted services subsidiary, American States Utility Services, Inc. (\u201cASUS\u201d). GSWC\u2019s separate credit agreement provides for a $200 million unsecured … <\/p>\n

Continue reading “American States Water Company and Golden State Water Company Announce New Credit Agreements”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-767769","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAmerican States Water Company and Golden State Water Company Announce New Credit Agreements - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/american-states-water-company-and-golden-state-water-company-announce-new-credit-agreements\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"American States Water Company and Golden State Water Company Announce New Credit Agreements - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"American States Water Company and Golden State Water Company Announce New Credit Agreements SAN DIMAS, Calif.–(BUSINESS WIRE)– American States Water Company (NYSE:AWR) and its regulated water utility subsidiary, Golden State Water Company (\u201cGSWC\u201d), announced that on June 28, 2023 they had each entered into new credit agreements with a term of five years provided by a syndicate of banks and financial institutions. These syndicated credit facilities replace AWR\u2019s previous credit agreement with a sole bank dated June 3, 2005, as amended and restated. AWR\u2019s credit agreement provides for a $150 million unsecured revolving credit facility to support AWR parent and its contracted services subsidiary, American States Utility Services, Inc. (\u201cASUS\u201d). 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