Fort Wayne/Allen County

City Utilities’ credit rating improves

Fort Wayne City Utilities announced Thursday that its stormwater bond credit rating got a boost.

In a Thursday news release, the department said Moody’s Ratings, a long-time assessor of financial ratings, upgraded the stormwater bond rating to Aa1 from Aa2, one step shy of the highest AAA rating.

City Utilities has $17 million in stormwater projects planned. Frank Suarez, public information officer, said the department asked Moody’s to look at City Utilities’ financials before getting too far along on those projects.

“They could have left the ratings alone,” he said. “But they looked at our financials, saw we could afford the bonds we’ve asked for and upgraded us.”

In December 2024, Moody’s upgraded water revenue bonds to

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