Population growth boosts utility

BONITA SPRINGS — The population of Bonita Springs rose 9.9% from 2007 to 2012, a statistic cited by Standard & Poor's as it upgraded the city utility's credit rating.

The city's growth outpaced the 4.3% increase in population statewide. In addition, the ratings increase for Bonita Springs Utilities was based on the area's economy, its diverse and relatively stable customer base, its debt-service coverage and its liquidity position.

The utility issues revenue bonds through Lee County Industrial Development Authority and it has taken advantage of lower interest rates in recent years.