The rating on Charlotte, N.C.'s revenue bonds reflects: * A strong and diverse economic base, * Excellent system operations, * Competitive rates, * Adequate legal provisions, and * A healthy financial position. A higher rating is precluded by the enterprise's capital program, which will require additional debt financing and will lead to some projected declines in total coverage of debt service. The system serves more than 150,000 customers throughout Mecklenburg County and has been experiencing steady growth in connections. The area economy is very diverse, benefiting from a strong employment mix, low unemployment rates, and above-average wealth levels. Water and sewer utilities are extremely well managed from the perspective of operating efficiencies and compliance of environmental regulations, as well as
