A rating agency has taken CPS Energy’s bond rating down a notch less than two weeks after city council passed a rate increase that was supposed to help keep the utility’s credit strong.
Moody’s Investor’s Service announced Monday it had downgraded CPS Energy’s senior lien revenue bond rating from Aa1 to Aa2 and its junior lien revenue bond rating from Aa2 to Aa3. Bond ratings factor into how much interest the utility has to pay when borrowing money.