City of Lubbock's Water and Wastewater Receives Bond Rating Upgrade from One Agency, Maintains Stable Rating with the Other; City Also Maintains its AA+ Bond Rating with a Stable Outlook

According to Fitch and S&P, the City of Lubbock maintained its AA+ bond rating with a stable outlook. This is the second highest quality bond rating a municipality can receive and represents a high credit worthiness with low risk of default.

Fitch said the City of Lubbock's financial resilience is driven by its 'high' ratings on both its 'revenue control assessment' and 'expenditure control assessment'.

 

S&P noted the rating "reflects the City's growing local economy...robust financial policies and practices that support a stable financial profile and strong reserves."

The City of Lubbock's Water and Wastewater System received a rating upgrade from Fitch from AA to a AA+ bond rating reflecting the system’s very strong enterprise and financial risk profiles. S&P maintained the City's Water and Wastewater System at a very stable AA rating. 

The rating reflects the opinions of both S&P Global Ratings and Fitch Ratings agencies. Each agency uses independent methodology to evaluate a municipality’s credit worthiness.