YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Credit rating agency Fitch Ratings issued its second-highest score for City Utilities’ obligations and issuer default rating.
The rating covers more than $73 million worth of public utility certifications of population in 2012 and 2014-15, according to a news release. The bonds received an AA rating, which represents a “very high credit quality” and is second to AAA, Fitch’s highest score.
Fitch officials pointed to CU’s low-risk bond portfolio.
“City Utilities' strong financial profile and ample liquidity position it well to withstand a moderate stress scenario, which shows the preservation of strong financial metrics through a five-year horizon,” rating agency officials said in the release.
CU also received an AA rating for $485.8 million in revenue bonds from 2015, as well as overall stable rating outlook.
A safe room and classroom addition at Willard Central Elementary School will be used by the music, arts and athletic programs for a district that had 4,536 students last year, according to Missouri Department of Elementary and Secondary Education figures, but school officials say enrollment is projected to grow.
