...S&P Global Ratings assigned its '###' long-term rating to Charlotte, N.C.'s series 2018 water and sewer system revenue refunding bonds. At the same time, we affirmed our '###' rating on the city's previously issued water and sewer system revenue bonds. The outlook is stable. The rating reflects our assessment of Charlotte's extremely strong enterprise and financial risk profiles. The enterprise risk assessment reflects our assessment of the city's: + Strong and deep service area economy in the Charlotte-Concord-Gastonia metropolitan statistical area (MSA) which is characterized by average incomes and below-average unemployment; + Very low industry risk as a monopolistic service provider of an essential public utility; + Moderately affordable combined rates representing 2.0% of median household effective buying income (MHHEBI); and + "Strong" Operational Management Assessment (OMA, where we view the system as a '1' on a six point scale with '1' being the strongest and '6' the weakest), which,...
