City of Corpus Christi Receives Update on Moody’s Financial Outlook

CORPUS CHRISTI, TX – The City of Corpus Christi has been notified by Moody’s Ratings (Moody’s) that the City will maintain its A1 rating for its General Obligation bonds and Utility System revenue debt.

While the current rating remains intact, Moody’s has placed the City’s outlook "under review" for a potential adjustment, including a credit downgrade. This review period, expected to last between 2 and 6 weeks, allows Moody’s to evaluate updated data on the City’s strategic water supply projects and the ongoing implementation of the Level 1 Water Emergency Plan.

The City remains actively engaged with Moody's analysts to demonstrate the progress of these vital infrastructure initiatives. The successful execution of these water projects is a primary focus for Moody’s in determining the City’s long-term credit standing.

"We are committed to full transparency and frequent communication with Moody’s throughout this process," said City Manager Peter Zanoni. "This review period provides an opportunity to showcase the concrete steps the City is taking to secure our water future and maintain our financial resilience."

During the review window, City leadership will continue to meet with the Moody’s Rating Committee to provide comprehensive updates on project milestones and water management strategies before a final determination.

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.