CORPUS CHRISTI, TX \u2013 The City of Corpus Christi has been notified by Moody\u2019s Ratings (Moody\u2019s) that the City will maintain its A1 rating for its General Obligation bonds and Utility System revenue debt.<\/p>\n
While the current rating remains intact, Moody\u2019s has placed the City\u2019s outlook “under review” for a potential adjustment, including a credit downgrade. This review period, expected to last between 2 and 6 weeks, allows Moody\u2019s to evaluate updated data on the City\u2019s strategic water supply projects and the ongoing implementation of the Level 1 Water Emergency Plan.<\/p>\n
The City remains actively engaged with Moody’s analysts to demonstrate the progress of these vital infrastructure initiatives. The successful execution of these water projects is a primary focus for Moody\u2019s in determining the City\u2019s long-term credit standing.<\/p>\n
“We are committed to full transparency and frequent communication with Moody\u2019s throughout this process,” said City Manager Peter Zanoni. “This review period provides an opportunity to showcase the concrete steps the City is taking to secure our water future and maintain our financial resilience.”<\/p>\n
During the review window, City leadership will continue to meet with the Moody\u2019s Rating Committee to provide comprehensive updates on project milestones and water management strategies before a final determination.<\/p>\n
The City continues to move forward with several strategic water projects to diversify sources and enhance the region’s water infrastructure resiliency.<\/p>\n
For more information on current water projects and city initiatives, please visit Securing Water, Together. | Corpus Christi Water<\/a>.<\/p>\n