Utica, NY (WIBX) - The Mohawk Valley Water Authority's revenue bonds are being upgraded from an "A" to "A-plus."

The MVWA was awarded the new rating by Standard and Poor's after the company cited its "strong capacity to meet financial commitments," and its diverse customer base, serving Utica and other areas in Oneida and Herkimer counties.

The rating will translate into a lower overall interest rate on new bonds and significant savings for those subject to refinancing.

The MVWA provides drinking water to approximately 126,000 customers.  The complete rating report can be viewed at: www.mvwa.us.