Corpus Christi Receives Positive Credit Rating Actions from S&P Global Ratings and Fitch Ratings Ahead of $300 Million Utility Bond Sale
CORPUS CHRISTI, TX — The City of Corpus Christi received favorable credit rating actions from two major credit rating agencies, Fitch Ratings and S&P Global Ratings, ahead of its upcoming $300 million Utility System Revenue Bond sale.
Fitch affirmed the City’s ‘A-’ rating on Corpus Christi utility system-related revenue debt and upcoming new issuances and improved the City’s Rating Outlook from Negative to Stable.
S&P Global Ratings affirmed its ‘A’ rating on the City’s utility system-related revenue debt and new issuances. S&P also removed the CreditWatch Negative designation that had been in place since May 2026 and assigned the City a Negative Outlook.
The rating actions follow meetings held September 3 between City leadership and both credit rating agencies as part of the planned assessment process. The City Manager, Deputy City Manager, Corpus Christi Water Chief Operating Officer and Finance Director met individually with Fitch and S&P to provide a comprehensive review of the City’s financial position, utility system, water supply conditions and plans supporting the upcoming bond issuance.
Recent improvements in the City’s water supply position include increased lake reservoir levels and the transition from Stage 3 to Stage 1 water restrictions. The City also continues advancing investments and projects to diversify its water supply and strengthen long-term system reliability.
The upcoming $300 million Utility System Revenue Bond sale will support continued investment in the City’s utility infrastructure and water supply initiatives. The City remains focused on sound financial management while making long-term investments to support a reliable utility system and strengthen Corpus Christi’s water supply for the future.
For more information, media representatives can contact Public Information Manager Robert Gonzales at 361-826-3233 or by email at robertg8@corpuschristtx.gov.
