Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Charlotte, N.C.'s water and sewer system revenue bonds, series 2006A, and affirmed its 'AAA' rating on the city's outstanding water and sewer system bonds. The 'AAA' rating reflects 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 1.87x; High liquidity; Affordable, competitive rates; and Strong system growth, with comprehensive planning. The rating also reflects a large capital improvement program (CIP), requiring about $150 million borrowing annually, which will increase revenue-bond debt levels. Proceeds of the 2006A fixed-rate bonds and
