S&P Global Ratings assigned its 'AA' rating to the Fayetteville Public Works Commission (PWC), N.C.'s anticipated $151.265 million series 2025 revenue bonds. At the same time, we affirmed our ?AA? rating on the PWC?s existing revenue bonds. The outlook is stable. ENGLEWOOD (S&P Global Ratings) Oct. 2, 2025--S&P Global Ratings today took the ratings actions listed above. We view energy transition risk factors as somewhat elevated because PWC?s power supply from DEP has a large exposure to costs associated with carbon emission related environmental regulations, as renewable capacity is being added to meet the targets set by the state?s renewable portfolio standard; however, we note State Senate Bill 266 removed the 70% target by 2030 but has maintained the 2050