Climate change

The city moved to a less-restrictive Stage 2 drought status for water use in another sign after recent rain that a water supply emergency is no longer imminent.

Analysts say the drought, which is expected to continue for at least several months, could have economic impacts.

Beneficial rainfall allowed the Texas city to move its timeline for a projected water supply emergency to September 2028 from the same month in 2027.

Water infrastructure projects in the 2027 plan are aimed at accommodating projected population growth and addressing dwindling supplies.

The Texas city needs higher rates in part to support future debt that would be issued for $1.1 billion of water supply projects that are underway.

With many residents eschewing flood insurance, the floods may, in the long term, hurt the tax base, an analyst said

The rating agency confirmed the Texas city's A1 bond ratings, ending a review for potential downgrade spurred by an impending water supply crisis.

The potential timing for a water supply emergency, which had been projected for December, was pushed nine months into the future with the help of rainfall.

The Texas city's $115 million general obligation bond sale comes as a water supply emergency and potential further negative rating actions loom.

Pooling local projects and slicing up risk could open the door to more private capital, a researcher said.

While the city projects a water emergency, capital costs in the state's latest water plan skyrocket and demand exceeds capacity in a state financing program.

Water supply woes continue to weigh on the Texas city's bond ratings, which have been hit with multi-notch downgrades and negative outlooks.

The long-discussed pieces of the budget — a "pied-à-terre" tax, climate law changes, and higher education spending — have finally come together. 

The counties with the greatest exposure lie along the coasts of Florida, Louisiana, South Carolina and Texas.

Proposed FEMA reforms could further increase financial strain for state and local governments after natural disasters.

The Texas city's projected Level 1 emergency — indicating water supply is 180 days from not meeting demand — was moved to December from September.

The loss of land to the sea in southern Louisiana over the next few decades places more than 1 million people in harm's way, the academics say.

The Texas city, which has been hit with rating downgrades due to a looming water supply crisis, plans to sell up to $728 million of bonds.

The drought-stricken Texas city's utility system rating was cut two notches to A, marking a continued downward trend in its credit quality.

Fitch, Moody's, and S&P were sent a letter from 23 GOP state attorneys general over the use of ESG factors related to fossil fuel in negative rating actions.