Rīgas ūdens bond issue

About the Company

Rīgas ūdens is the largest water utility company in Latvia, providing essential water supply and wastewater services to around 600,000 residents in Riga and its surrounding area.

The Company was founded in 1991, with roots going back to 1620 when it first began supplying water to Riga’s population. Rīgas ūdens employs 762 people, supported by an experienced management team that ensures stable operations and long-term institutional expertise.

The Company operates an extensive infrastructure network of around 2,837 km across Riga and its nearby area. Annually, the Company processes around 36.4m m³ of drinking water and treats approximately 50.2m m³ of wastewater.

Company is fully owned by the Riga City Municipality, which holds 100% of the company’s capital shares.

On May 2026, Rīgas ūdens received a reaffirmation of A3 rating with a stable outlook from Moody’s. The rating reflects the issuer’s creditworthiness and its dependence on government support.

In the first six months of 2026, Rīgas ūdens generated revenue of EUR 45.4m, a 15% increase compared to the same period in the previous year. The income mix remained stable, with water supply services contributing 48% of total revenue, sewer services 50%, and other sources 2%.

Bond issuance proceeds will finance fully taxonomy-aligned projects, including sustainable wastewater management, water supply efficiency, renewable energy production, and energy efficiency upgrades.

Additional information: https://www.rigasudens.lv/en/bonds

Term Sheet