{"id":302270,"date":"2026-05-21T01:34:10","date_gmt":"2026-05-21T01:34:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/302270\/"},"modified":"2026-05-21T01:34:10","modified_gmt":"2026-05-21T01:34:10","slug":"sp-affirms-corpus-christis-aa-credit-rating-on-city-debt-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/302270\/","title":{"rendered":"S&#038;P affirms Corpus Christi\u2019s \u2018AA\u2019 credit rating on city debt"},"content":{"rendered":"<p class=\"mb-4 text-lg md:leading-8 break-words\">Standard &amp; Poor\u2019s kept Corpus Christi\u2019s \u201cAA\u201d credit rating in place on Wednesday.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">The rating applies to the city\u2019s general obligation bonds, certificates of obligation, and limited-tax notes. While the rating remains in the high-grade category, S&amp;P changed the city\u2019s outlook from \u201cstable\u201d to \u201cnegative.\u201d<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">However, the agency says drought and water supply concerns continue to put pressure on the city\u2019s financial outlook.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">The change means the agency is closely monitoring how the ongoing drought and water shortages could affect the city financially in the future.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Corpus Christi city officials said the outlook could return to stable if Corpus Christi keeps balanced finances, maintains reserve funds, and increases water supplies enough to avoid or recover from a possible Level 1 Water Emergency without major long-term damage to the local economy.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">RELATED: <a class=\"link  yahoo-link\" href=\"https:\/\/www.yahoo.com\/news\/articles\/corpus-christi-water-system-credit-180714527.html\" data-ylk=\"elm:link;elmt:article_link;slk:Why Corpus Christi&#039;s water crisis just became harder to pay for;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Why Corpus Christi&#039;s water crisis just became harder to pay for&quot;}\" rel=\"nofollow noopener\" target=\"_blank\">Why Corpus Christi&#8217;s water crisis just became harder to pay for<\/a><\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">The update follows an earlier downgrade this month, when S&amp;P lowered the city\u2019s utility system rating from AA-minus to A due to drought concerns and uncertainty about future water supplies.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Moody\u2019s and Fitch Ratings also downgraded the city\u2019s utility rating late last year.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Credit ratings are important because they can impact how much cities pay to borrow money for major projects. Lower ratings can mean higher borrowing costs.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Corpus Christi is currently working on several large water supply projects, including groundwater expansion plans and the proposed Inner Harbor desalination plant, amid ongoing drought conditions across South Texas.<\/p>\n","protected":false},"excerpt":{"rendered":"Standard &amp; Poor\u2019s kept Corpus Christi\u2019s \u201cAA\u201d credit rating in place on Wednesday. The rating applies to the&hellip;\n","protected":false},"author":2,"featured_media":302271,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[155,157,156,102888,2993],"class_list":["post-302270","post","type-post","status-publish","format-standard","has-post-thumbnail","category-corpus-christi","tag-corpus-christi","tag-corpus-christi-headlines","tag-corpus-christi-news","tag-credit-rating","tag-water-shortages"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/302270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=302270"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/302270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/302271"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=302270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=302270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=302270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}