Standard & Poor's has upgraded Metropolitan Utilities District's water system bond rating.
MUD's bond rating went up to "AA-" from "A+" by the rating agency, which cited good financial practices and policies along with a stable outlook when making the upgrade. "We are pleased that Standard & Poor's recognized the significant progress the District has made in the areas of financial management and policy oversight over the past few years," said M.U.D. President Scott Keep. "This upgrade affirms the fiscal discipline our Board has encouraged and our staff has executed while continuing to focus on ensuring our water rates remain affordable and reasonable for all of our customers."
The upgraded rating means MUD can sell bonds at lower interest rates in the capital markets.