LUBBOCK, TX (KCBD) - Lubbock's major water supplier just got its new credit rating.
CRMWA, or the Canadian River Municipal Water Authority, is now rated as a AA-, which is just a couple steps below the best possible rating.
According to Fitch ratings, Lubbock's Water Utility Fund has weakened significantly over the last few years. Lubbock is one of 11 member cities and is responsible for 37% of CRMWA debt.
Fitch also says as CRMWA borrows more money for future projects the bond rating could be affected.
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