Moody’s Investors Service last week downgraded the Camrosa Water District’s water and sewer system revenue bonds to Baa1 from A2 after the district failed to raise rates to keep up with rising water costs.

“The downgrade primarily reflects the district’s weakened financial position and likely continued below-average debt service coverage levels,” analyst Bridget Young said in a report.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.