St. Johns County Utility Department Earns High Moody’s Rating, Reflecting Strong Financial Management
Independent credit upgrade highlights fiscal responsibility and long-term planning
The St. Johns County Utility Department has earned a strong Aa1 credit rating from Moody’s Ratings for its water and sewer system, reflecting sound financial management, stable operations, and long-term planning aligned with the County’s Strategic Plan (PDF).
Moody’s upgraded the County’s existing water and sewer revenue bonds to Aa1 and assigned the same rating to bonds issued in 2026, with a stable outlook. The rating places the St. Johns County Utility Department among the highest-rated utility systems in the region. The Utility Department also maintains an AAA rating with S & P Global.
“This rating reflects our commitment to responsible financial stewardship and long-term planning,” said Neal Shinkre, Director of St. Johns County Utility Department. “It demonstrates that the Utility Department is managing public resources carefully while maintaining reliable, essential services for our residents.”
According to Moody’s, the upgraded rating reflects strong cash reserves, consistent revenue performance, and the Department’s ability to comfortably meet its financial obligations. The agency also cited effective management practices as key factors supporting the rating and stable outlook.
High credit ratings support the County’s Strategic Plan by allowing the Utility Department to fund critical infrastructure projects more efficiently, reduce long-term costs, and ensure dependable service delivery while protecting ratepayer dollars.
The St. Johns County Utility Department provides water, wastewater, and reclaimed water services throughout the County and remains focused on fiscal responsibility, long-term planning, and delivering high-quality essential services.
What Is a Moody’s Rating?
Moody’s Ratings is an independent credit rating agency that evaluates the financial strength of governments, utilities, and other public entities.
A Moody’s rating functions similarly to a credit score. It measures how reliably an organization can meet its financial obligations.
- Higher ratings indicate strong financial health and low risk
- Lower ratings indicate higher financial risk
An Aa1 rating is one of the highest possible ratings Moody’s assigns and signals strong confidence in an organization’s financial stability and management.
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