Moody’s accelerates review: Corpus Christi finances under microscope

CORPUS CHRISTI, Texas — Corpus Christi is undergoing an accelerated credit review by Moody’s Investors Service — a move that could impact the city’s financial future and potentially cost taxpayers.

Moody’s, one of the nation’s top credit rating agencies, assesses the financial stability of governments and institutions. A strong credit rating allows cities to borrow money at lower interest rates for infrastructure and public projects. A downgrade, however, can make borrowing more expensive — and those higher costs often trickle down to residents through increased fees or reduced services.

In a letter sent to City Manager Peter Zanoni, the city's financial advisor, Victor Quiroga said, Moody’s cited concerns about the city’s reserve levels, lack of regular utility rate adjustments, and lon