Moody’s Ratings Confirms A1 Ratings for City’s General Obligation Bonds and Utility System Revenue Bonds
City’s Proactive Efforts Avoid Credit Downgrade
CORPUS CHRISTI, TX – Today, the City met with Moody’s Ratings (Moody’s) regarding their Ratings Committee’s review of the City’s General Obligation bonds and Utility System Revenue ratings. During their Rating Committee meeting, Moody’s confirmed the A1 rating for the City’s General Obligation bonds and the A1 rating for the Utility System Revenue bonds. The A1 rating is upper medium grade.
The City’s A1 ratings had been under review for a potential downgrade since April 2026; however, Moody’s Ratings did not downgrade the rating as a result of the City’s continued progress on water supply projects, such as our Nueces Groundwater program and the City’s Level 1 Water Emergency Plan.
"While we are pleased that Moody’s recognizes the aggressive, proactive steps our leadership team has taken to protect our fiscal standing and water security, we know our work is far from over," City Manager Peter Zanoni said. "The updated outlook from Moody’s indicates the need for us to continue to execute our water supply projects.”
As part of their rating review, Moody’s also updated the City’s outlook from ‘under review’ for imminent downgrade to a ‘negative’ outlook, which is a slight improvement for all ratings (General Obligation and Utility System).
The negative outlook reflects the need to bring on our current approved water supply projects and secure additional water supplies. The window to resolve the ‘negative’ outlook is 15 to 18 months, during which Moody’s will continue to monitor the City’s progress toward accomplishing water security.
The City continues to move forward with several strategic water projects to diversify sources and enhance the region's water infrastructure resiliency.
For more information on current water projects and city initiatives, please visit Securing Water, Together. | Corpus Christi Water.
For more information, media representatives can contact Robert Gonzales, Public Information Manager, at 361-826-3233 or robertg8@corpuschristitx.gov.
