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CU assigned second-highest Fitch score

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Credit rating agency Fitch Ratings issued its second-highest score for City Utilities’ obligations and issuer default rating.

The rating covers more than $73 million worth of public utility certifications of population in 2012 and 2014-15, according to a news release. The bonds received an AA rating, which represents a “very high credit quality” and is second to AAA, Fitch’s highest score.

Fitch officials pointed to CU’s low-risk bond portfolio.

“City Utilities' strong financial profile and ample liquidity position it well to withstand a moderate stress scenario, which shows the preservation of strong financial metrics through a five-year horizon,” rating agency officials said in the release.

CU also received an AA rating for $485.8 million in revenue bonds from 2015, as well as overall stable rating outlook.

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