Oklahoma City Water Utility Retains Top Credit Ratings
The Oklahoma City Water Utilities Trust (OCWUT) once again earned the highest possible credit ratings from two leading agencies — AAA from S&P Global Ratings and Aaa from Moody’s Investors Service.
These top-tier designations reaffirm OCWUT’s place among the most financially stable municipal utilities in the nation. Both agencies rated the trust’s upcoming $200 million Series 2025 Utility System Revenue and Improvement Bonds and reaffirmed top ratings for all outstanding senior-lien bonds.
Strong Financial Outlook
Both S&P and Moody’s maintained a stable financial outlook, underscoring OCWUT’s proven fiscal management and commitment to long-term infrastructure stability. These ratings allow the utility to borrow at the lowest interest rates possible—saving customers money while funding vital improvements.
OCWUT’s $2.8 billion five-year Capital Improvement Plan (CIP) includes major investments in water infrastructure, drought resiliency and expanded long-term water supply.
National Recognition for Sound Management
In its report, Moody’s praised OCWUT’s long record of solid operations backed by proactive planning, strong debt service coverage and robust liquidity. Similarly, S&P Global cited “exceptionally strong management practices” and a clear alignment between OCWUT’s financial goals and operational performance.
The trust’s broad, diverse service area—which includes wholesale contracts with 17 surrounding communities—further strengthens its revenue base and system stability.
Building Oklahoma’s Water Future
Among OCWUT’s major projects is the construction of the 100-mile second Atoka Pipeline, slated for completion in 2028. The project is designed to secure water supply reliability and drought resilience through 2060. Additional projects include upgrades to water and wastewater treatment plants and an accelerated small main replacement program across Oklahoma City.
Commitment to the Community
“Maintaining these top ratings reflects our disciplined approach to resource management and long-term planning,” said Chris Browning, OCWUT General Manager and Utilities Department Director. “It shows the trust our customers and community place in us as we build infrastructure that will serve Oklahoma City for generations.”
OCWUT’s financial discipline, rate stability, and commitment to modernization keep it among the best-managed municipal utility systems in the nation—ensuring sustainable and reliable water, wastewater and solid waste services for central Oklahomans far into the future.
Source: press release