Water Utility earns top-tier AAA bond rating from S&P Global Ratings

The City of Fort Worth’s Water Utility has received an upgraded revenue bond rating of AAA from S&P Global Ratings, the highest rating available, reflecting the utility’s strong financial management, stable performance and long-term infrastructure planning.

The upgrade from AA+ recognizes several years of disciplined budgeting, commitment to maintaining healthy reserves, formalized asset management planning, diverse revenue streams and sustained investment in critical water and sewer infrastructure.

“This rating confirms that Fort Worth has taken a responsible, long-term approach to managing the utility systems our residents rely on every day,” said Jay Chapa, Fort Worth city manager. “As our city continues to grow, we have remained focused on protecting ratepayers, maintaining strong financial health and making strategic investments that ensure reliable service for the future.”

The improved credit rating is expected to lower borrowing costs on future bond sales, generating savings over time that can be reinvested into system upgrades, aging infrastructure replacement, capacity improvements and resiliency projects across the utility network.

“This is a meaningful win for our customers because stronger bond ratings translate into lower interest rates and greater long-term value for ratepayers,” said Chris Harder, Fort Worth Water director. “It reflects years of focused financial stewardship and careful planning by our utility team.”

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