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SANTA FE, December 12, 2023 – Fitch Ratings, an independent rating agency, has affirmed the City of Santa Fe’s Water Utility and Wastewater System revenue bond ratings at ‘AA+.’ Fitch said these ratings reflect the systems’ strong financial profiles in the context of very strong revenue defensibility. Strong revenue defensibility is supported by the systems’ favorable service area characterized by midrange growth and income levels, and a moderate unemployment rate relative to the nation. Fitch also considered the affordability of the City’s water and sewer rates, concluding that utility rates are considered affordable for the majority of the population.
