Standard&Poor's Ratings Services affirmed its 'AAA' long-term rating on Charlotte, N.C.'s outstanding water and sewer bonds, reflecting the city's water and sewer system's: Continued strong growth in the service area and the ability to keep pace with significant new development; Very strong financial performance and the expectation of continued coverage of revenue bonds in excess of 1.98x; High liquidity; Affordable, competitive rates; and Strong system growth with comprehensive planning. The long-term rating also reflects a large capital improvement program (CIP) requiring about $160 million borrowing annually, which will increase revenue-bond debt levels. Charlotte's water and sewer system, serving a large area of both the city and Mecklenburg County, has shown solid growth in customers, reflecting the strong economic
