Press Release

Fitch Ratings - New York - 13 Nov 2024: Fitch Ratings has affirmed the rating on the following Indianapolis, IN water system revenue bonds issued on behalf of the city's Board of Directors for Utilities of its Department of Public Utilities, doing business as Citizens Energy Group (Citizens or the system) at 'AA-':

• Approximately $56 million outstanding first-lien water revenue bonds issued by the Indianapolis Local Public Improvement Bond Bank (ILPIBB) series 2007B;
• Approximately $57 million outstanding first-lien water revenue bonds issued by the Indiana Finance Authority (IFA) series 2014A and 2016A;
• Approximately $479 million outstanding first-lien revenue bonds issued by the city series 2016B and series 2018A.

The Rating Outlook is Stable.