Investor relations
A reliable investment
See the credit ratings assigned to SRP as of September 2025.
- Moody's: Aa1* (Opens in a new tab)
- S&P*: AA+* (Opens in a new tab)
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2024 bond authorization
On September 5, 2024, The Arizona Corporation Commission (ACC) approved SRP’s request to issue up to $6.4 billion in tax-exempt revenue bonds to help finance new generation, transmission and distribution projects that are needed to support the growth of the Phoenix metropolitan area and help ensure reliable, affordable and sustainable power for SRP customers.
The ACC also approved up to $7 billion in revenue refunding bonds to refinance debt and lower borrowing costs for SRP, which helps keep costs down for customers.
While the ACC approved the total amount of revenue bonds that SRP may issue over time, the SRP Board of Directors and SRP Council must approve each separate bond sale, when needed.
Funding the Valley’s future
As the Valley of the Sun continues to prosper, SRP remains committed to providing affordable, reliable power to meet increasing demand.
SRP occasionally issues revenue bonds to support capital projects and, when necessary, enhance existing infrastructure.
SRP revenue bonds pay a fixed interest rate over the life of the bonds. Typically, earned interest is exempt from federal taxes. State tax exemptions are, in most cases, available for bond purchasers who are residents in the state where the bonds are issued.
Note: SRP encourages you to work with your tax adviser to fully understand tax implications.
View bond disclosures
You can see all of SRP’s current bond disclosures on the Electronic Municipal Market Access (EMMA) website (Opens in a new tab) , operated by the Municipal Securities Rulemaking Board (MSRB) (Opens in a new tab) .
The EMMA system provides a comprehensive, centralized and free source for all details related to bonds, including official statements, continuing disclosure submissions, advance refunding documents, and real-time trade price information on municipal securities.
See existing bonds
Explore the list of SRP Revenue Bond issues and click on any link to see more information on EMMA.
Electric System Revenue Bonds
| Series | Original Par Amount | Dated |
| 2025 Series C | 727,735,000 | 11/4/2025 |
| 2025 Series B | 637,230,000 | 3/4/2025 |
| 2025 Series A | 277,930,000 | 3/3/2025 |
| 2024 Series B | 144,865,000 | 10/9/2024 |
| 2024 Series A | 555,135,000 | 10/9/2024 |
| 2023 Series B | 650,000,000 | 11/21/2023 |
| 2023 Series A | 500,000,000 | 2/28/2023 |
| 2022 Series A | 193,065,000 | 3/4/2022 |
| 2021 Series A | 277,400,000 | 10/1/2020 |
| 2020 Series B (Opens in a new tab) | 100,000,000 | 10/1/2020 |
| 2020 Series A (Opens in a new tab) | 224,670,000 | 10/1/2020 |
| 2019 Series A (Opens in a new tab) | 461,170,000 | 10/24/2019 |
| 2017 Series A (Opens in a new tab) | 735,240,000 | 11/9/2017 |
| 2016 Series A (Opens in a new tab) | 760,965,000 | 11/18/2016 |
| 2015 Series A (Opens in a new tab) | 924,000,000 | 5/15/2015 |
| 2010 Series A (Opens in a new tab) | 500,000,000 | 10/7/2010 |
Review our financials
Stay in the know
See the latest updates and notices about SRP’s financial decisions.
Independent Registered Municipal Advisor information (IRMA)
Effective May 23, 2022, SRP has retained PFM Financial Advisors, LLC ("PFM"), an independent registered municipal advisor, as its financial advisor.
SRP is represented by and will rely on the advice of PFM when considering information provided by financial services firms concerning the issuance of municipal securities and municipal financial products.
Download the complete Notice of Retention of an Independent Registered Municipal
Advisor
Updates to Revolving Credit Agreements
At the March 2, 2026 meeting of the Board of Directors of the District (the "Board"), wherein a quorum was present and voted, a majority of the Board authorized the District to execute and deliver an amendment with TD Bank, N.A. to extend the maturity date of the existing Revolving Credit Agreement dated as of July 14, 2022 and execute and deliver a Revolving Credit Agreement with Royal Bank of Canada.
On June 29, 2026, the District entered into a $175,000,000 Revolving Credit Agreement with Royal Bank of Canada with a final maturity date of June 27, 2031. The Royal Bank of Canada Revolving Credit Agreement replaces the JP Morgan Chase Bank, N.A. $175,000,000 Revolving Credit Agreement which was allowed to expire pursuant to its terms.
On July 6,2026 the TD Bank NA $175,000,000 Revolving Credit Agreement was amended to, among other things, extend the final maturity date from July 14, 2026 to July 12, 2030.
No changes were made to the PNC Bank, N.A. $200,000,000 Revolving Credit Agreement. Final maturity date of June 30, 2028.
No changes were made to the Bank of America, N.A. $250,000,000 Revolving Credit Agreement. Final maturity date of July 1, 2029.
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