Fitch revises Citrus County’s water, wastewater bond outlooks

AUG. 26 — Citrus County received an updated rating on water and wastewater utility bonds from investment rating agency Fitch Ratings.

This revision upgrades the Citrus County utility bond from an AA Stable Rating Outlook to an AA Positive Rating Outlook, opening the door for a potential upgrade to an AA+ rating in the future.

In its conclusion, Fitch Ratings expects the funds available for repayment of the bonds to continue a modest but steady yearly rise. Due to a growing number of areas receiving these water and wastewater services as new housing developments are constructed and the strong possibility of state and federal grant funding, Fitch views the county’s utility system as a very low risk investment.

The Citrus County Board of County Commissioners are confident that this reclassification demonstrates the strong financial position of the county and the utility system.

“This conclusion from Fitch Ratings shows that, not only is Citrus County in a solid financial position, but also that the county is experiencing healthy financial and utility system growth,” said Board of County Commissioners Chairman, Scott Carnahan.

“Our community’s utilities are in a strong position to continue expanding, allowing us to better provide services to our citizens.”