Springfield’s water utility is sitting on a good bond rating.
Moody’s bond rating agency recently reaffirmed the water side with a AA1 rating. Mayor Mike Houston says that means an outside firm believes the water division of the utility is in a strong position.
What that means for ratepayers is that if the city were to issue more bonds to fund future water projects, it would cost the city less money.
That’s not the same story for the utilities electric side which is struggling with debt and a low cash balance.