# S&P Global today bumped the utility’s credit rating to AA- down from AA.

*business · news · 2026-02-11 · AL.com*

## Key points

- S&P Global downgraded Central Alabama Water's credit rating to AA- and put it on negative watch.
- The utility has only $23.8 million in reserves, enough for 62 days, far below required levels.
- The current board canceled infrastructure upgrades, including Lake Purdy Dam improvements cited in the credit downgrade.
- Central Alabama Water faces a $63 million September debt payment, risking further downgrades if not addressed.
- Refinancing the debt could increase annual costs by $3–4 million, likely impacting customer rates long-term.

**Companies:** Central Alabama Water, Terminus Municipal Advisors, Porter White & Company
**Countries:** United States

[Read the full story on AL.com](https://www.al.com/news/birmingham/2026/02/central-alabama-water-credit-rating-downgraded-financial-crisis-could-impact-consumers.html)

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