On Wednesday, August 3, 2017, Fitch Group affirmed Charlotte Water’s Bond Rating at AAA with a Stable Outlook. This reinforces the City’s ongoing commitment to providing high quality water and wastewater services at affordable rates.
When reviewing Charlotte Water’s finances and operations, several items were cited by Fitch as critical factors contributing to the stability of the utility, including efforts the utility makes to:
- Maintain affordable rates.
- Follow long-term financial and regional water supply plans.
- Implement ongoing capital investments to accommodate new growth and rehabilitation of existing infrastructure.
- Support the city’s role as a regional economic center for trade, transportation, health care, financial services and other industries.
Departure from existing financial planning was identified by Fitch as the only notable factor that could threaten the utility’s rating in the future.