
S&P Global Ratings lowered its long-term rating to "AA-" from "AA" on Central Alabama Water's fiscal mismanagement, which the board attributes to the former Birmingham Water Works Board.

On Wednesday, Central Alabama Water passed an operation and maintenance budget and a capital budget; the budgets do not include a rate increase for customers.

Jeff Thompson was named the first CEO of Central Alabama Water effective immediately following a vote by the board on Thursday morning. The vote, which gave Thompson a two-year contract with an annual salary of $446,000, was approved by four members of the board for the hire, two against and one member voting present.

On Monday, Birmingham Mayor Randall Woodfin took to social media to address the rumored frontrunner for chief executive officer for Central Alabama Water, Jeff Thompson.