Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating on Addicks Utility District, Texas' general obligation debt to BBB-plus from BBB.
The outlook is stable.
"The upgrade reflects our assessment of the district's recent property tax base growth, which has resulted in a declining debt burden, and to the district's improved financial position," said Standard & Poor's credit analyst Lauren Spalten.
Chicago made the second half of its supplemental pension payment, fulfilling a budgetary pledge and assuaging concerns of aldermen and rating agencies.
Market participants broadly expected a rate hike, but the FOMC statement and press conference both rang more hawkish than what the markets probably anticipated, said Chris Brigati, managing director and CIO at SWBC.
A U.S. Appeals Court for the Tenth Circuit ruling vacated a lower court's permanent injunction against a project to expand the Gross Reservoir.
Fitch Ratings revised its outlook to stable from negative on the Corpus Christi utility and S&P removed it from CreditWatch with negative implications.
With the Bipartisan Infrastructure Law funding sunsetting at the end of the month, the American Public Transportation Association is staging a fly-in to lobby for advance appropriations.
Chicago will be a regional water supplier, and its water could draw the next Great Migration, Department of Water Management Commissioner Randy Conner said.
