The Metropolitan St. Louis Sewer District Receives High Credit Ratings from Standard & Poor’s, Fitch, and Moody’s
The Metropolitan St. Louis Sewer District (MSD) was assigned a AAA rating from Standard & Poor’s, an AA+ from Fitch, and an Aa1 from Moody's for an upcoming revenue bond issue of approximately $240 million. Approximately $150 million of the bond issue will be used to finance upcoming wastewater projects that are part of MSD Project Clear, an initiative to improve water quality and address wastewater concerns through the St. Louis region. The remaining amount - approximately $90 million – will be used to refinance previously issued bonds, saving MSD customers approximately $9 million in financing costs. The bonds will be issued without a Debt Service Reserve Fund, which will result in an additional savings that can be used towards projects.