Standard and Poor’s has issued another strong credit rating for Evansville’s water utility.
The S&P issued a Double-A-Minus rating on the utility’s outstanding debt. A news release from the city says it shows Evansville has a strong capacity to meet its financial commitments in full and on time.
City Controller Russ Lloyd Jr. tells WNIN News the rating keeps interest rates on bonds low. He says the Double-A Minus is not as strong as a Triple-A or even a Double A rating, but it’s good enough to keep overall costs down for multi-million dollar projects.
Mayor Winnecke says in the news release that the rating indicates the water utility is wisely managing ratepayers’ fees and strengthening the fiscal health of a critical city service.