The City of Gastonia’s water and sewer system has received an AAA bond rating from Fitch Ratings, the highest rating possible. This top rating reflects strong financial management and a stable utility system that is well-prepared to maintain and improve critical water and sewer services for residents.
A bond rating is similar to a credit score. A higher rating means the City can borrow money at lower interest rates to build and maintain important infrastructure like water lines, sewer systems, and treatment facilities.
For residents, this means:
- Lower long-term costs for utility projects
- More efficient investment in water and sewer infrastructure
- Stable, well-managed utility services
- Continued reliability in essential services
Fitch Ratings noted that Gastonia’s utility system is in a very strong financial position and is expected to remain stable in the years ahead. The agency also reported that local utility bills remain competitive and affordable for most households in the service area.
“This AAA rating is a strong endorsement of the way we manage our utility system,” said Assistant City Manager Brian Potocki, who oversees the Public Services and Public Utilities Departments. “It helps us keep costs low while continuing to invest in reliable water and sewer service for our community.”
City of Gastonia, which has operated as Two Rivers Utilities since the 2011 merger with Cramerton, provides retail water and sewer service to customers within and directly around the City of Gastonia. The system is also a regional provider of wholesale water and wastewater services to surrounding towns and municipalities including Belmont, Bessemer City, Lowell, Dallas, High Shoals, Kings Mountain, Stanley, McAdenville and Ranlo, NC and Clover, SC.
###
Gastonia, N.C., just minutes west of Charlotte, is one of the area’s best places to live and work with an ideal combination of location, size and livability. Gastonia is the largest of Gaston County’s 13 municipalities and one of the largest cities in the Charlotte metropolitan area. Selected as an All-America City three times, Gastonia’s desirable quality of life is the result of its beautiful natural surroundings, friendly neighborhoods, responsive government and vibrant business environm