INDIANAPOLIS – Citizens Energy Group today announced that S&P Global Ratings (S&P) has upgraded the credit rating on the company’s water system to ‘AA+’ from ‘AA,’ with a stable outlook. Concurrently, S&P assigned its AA+ rating to an upcoming first‑lien water utility revenue bonds issuance for Citizens Water.
The full announcement from S&P is attached here.
According to S&P, the higher rating reflects Citizens demonstrated track record of stable and comprehensively managed financial performance, its advanced asset-management program, and its comprehensive planning efforts that prioritize business continuity and customer cost impact. S&P also noted the robust Citizens regional water system, diversified service area, and disciplined capital planning as key strengths supporting the upgrade.
In underscoring credit stability, S&P highlighted the strategic steps Citizens has taken to target long-term affordability for customers as well as diverse revenue streams via expanding wholesale water service to the City of Lebanon and the coming acquisition of the Town of Whitestown water utility assets. The report also recognized efforts by Citizens to enhance its environmental stewardship responsibilities while providing measurable cost reductions, identifying work to remove lead service lines on behalf of Citizens customers.
“This upgrade is an affirmation of our commitment to strong financial stewardship, transparency, and long‑term planning on behalf of the communities we serve,” said Jeffrey Harrison, President & CEO of Citizens Energy Group. “It speaks to the benefits of our public charitable trust structure and our ongoing focus on delivering safe, reliable, and affordable utility service while investing responsibly in water infrastructure essential to Central Indiana’s future.”
About Citizens Energy Group
Citizens Energy Group provides safe and reliable utility services to about 900,000 people in the Indianapolis area. Citizens operates its utilities for the benefit of customers and the community.
Media Contact Information
Ben Easley
Phone: 317-519-1515
Email: media@citizensenergygroup.com