Raleigh Water has received the highest credit ratings from Moody’s and S&P Global, according to the utility. The Aaa/AAA ratings reflect long-term financial stability and highlight the utility’s record of disciplined fiscal management over its 139-year history.
The high credit ratings allow Raleigh Water to obtain loans at low interest rates, providing cost savings for critical infrastructure projects. In a statement, the utility’s Director, Whit Wheeler, said maintaining the top-tier ratings reflects a commitment to responsible management of public funds and noted that the resulting efficiencies ultimately benefit customers.
The credit rating review considered more than financial statements, reflecting Raleigh Water’s overall strategic and operational performance. Raleigh Water’s administration manager, Steve Balmer, said the high ratings demonstrate confidence in the utility’s long-term planning and its commitment to providing consistent water services.
Raleigh Water identified several factors contributing to its top-tier credit ratings, including timely adjustments to service rates, effective regional growth management, low debt levels relative to income, experienced leadership, and the strength of the local economy. The utility said these elements support its ability to maintain reliable water service and long-term financial stability.
With its top credit ratings, Raleigh Water is positioned to continue investing in infrastructure across the Triangle area. The utility’s focus on cost efficiency supports the development and maintenance of systems that provide reliable water service, while helping the city meet growing demand without compromising financial stability for residents, according to the City of Raleigh.
