Raleigh Water Earns Top Scores for Financial Strength

Raleigh Water just received a "perfect score" from the experts. Two top credit rating agencies, Moody’s and S&P Global, have once again given the City’s water system the highest possible rating: Aaa/AAA.

After 139 years of service, Raleigh Water continues to be a model of stability. These reports confirm that the utility is well-prepared for upcoming financial shifts, thanks to a history of disciplined fiscal planning.

Why These Ratings Matter

Think of a credit rating like a personal credit score, but for a city. Because Raleigh Water has a "triple-A" rating, it can borrow money at the lowest possible interest rates.

This saves millions of dollars when the City builds new pipes, water plants, or repair projects. These savings are passed on to customers through reliable service and better long-term value.

“Maintaining these top-tier ratings reflects our dedication to being good stewards of public funds,” said Raleigh Water Director Whit Wheeler. “By securing the best possible financing rates, we ensure that our investments in the City provide lasting benefits for everyone we serve.”

What the Experts Noticed

The agencies didn’t just look at the bank account. They looked at how the utility is run. 

"Strong ratings are more than just numbers," said Steve Balmer, Raleigh Water’s administration manager. "They represent confidence in our ability to plan strategically and deliver reliable water services for generations to come."

The reports highlighted five big reasons for the top-tier score:

•    Smart Planning: Timely updates to rates and steady growth in the area.
•    Plenty of Water: Enough supply and treatment power to handle our growing region.
•    Low Debt: A healthy balance between what the city owes and what it earns.
•    Expert Management: Strong leadership and clear goals for the future.
•    A Strong Local Economy: A diverse mix of local businesses that keeps the region stable.

Looking Ahead

With these high marks, Raleigh Water is ready to keep investing in the Triangle. By keeping costs low, the City can continue building the infrastructure needed to provide clean, reliable water for generations to come.