BRADENTON, Fla. – Columbia, S.C.’s mostly bond-financed $750 million water and sewer system capital plan, driven by a federal order to stop sewage overflows, is a credit negative, Moody’s Investors Service said in a special comment Thursday.

Columbia has entered a proposed consent decree with the Department of Justice, Environmental Protection Agency, and South Carolina Department of Health and Environmental Control, which is open for public comment until Oct. 17. After that it is expected to be approved by a federal court.

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