A bond rating is like a credit score such that a higher rating means money can be borrowed by the city at lower interest rates to maintain and build important infrastructure like sewer systems, treatment facilities, and water lines. The impact for residents is that there will be more efficient investment in water and sewer infrastructure; lower costs in the long term for utility projects; well managed and stable utility services; and continued reliability in essential services.
News of such ratings and their benefits can be made known throughout a community with flyer printing.
Fitch Ratings said that the utility system of Gastonia is very strong financially and should stay stable for years to come. Most households will find their utility bills to be affordable and competitive.
Brian Potocki, Assistant City Manager who oversees the Public Utilities and Public Services departments of the city, said:
“This AAA rating is a strong endorsement of the way we manage our utility system.”
He added that this helps to keep their costs low while also enabling the city to invest in reliable sewer and water service for the community.