PROVIDENCE – The Rhode Island Infrastructure Bank’s Clean Water State Revolving Fund and Drinking Water State Revolving Fund programs have earned AAA, stable outlook credit ratings from Fitch Ratings and S&P Global Ratings, the infrastructure bank announced Monday.
The agencies cited the infrastructure bank’s secure market position, strong financial policies, robust over-collateralization and low-risk profile as key factors behind the top-tier ratings.
The announcement comes ahead of a planned bond sale to fund projects at the Narragansett Bay Commission and Kent County Water Authority.
“This is a tremendous vote of confidence despite uncertainties around federal funding,” said Executive Director William Fazioli. “These AAA ratings demonstrate that the infrastructure bank is highly creditworthy and a responsible steward in managing public funds to improve critical clean and drinking water infrastructure, while providing the most affordable financing terms for our city, town and quasi-public clients.”
The infrastructure bank provides financing for municipal, business and residential infrastructure projects, using revolving funds to support clean water, wastewater, roads and bridges, energy efficiency, renewable energy and brownfield redevelopment.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
