Standard and Poors Global Ratings (S&P) announced an increase of the Greer Commission of Public Works’ rating to AA-, with a stable outlook. This is an improvement from 2016 when Greer CPW received an A+ rating.
“We make decisions daily for our staff and customers that impact our ratings in a positive manner,” said Angie Karcher, CPW’s Finance Manager. To continue moving in a productive direction is great for both the company and our customers.”
Ratings are based on several key factors including a strong residential customer base, competitive utility rates and a robust unrestricted cash and investment account.
“We’ve worked extremely hard behind the scenes to manage our capital projects and paying down debt, said Mike Richard, Greer CPW’s General Manager. Having a strong financial rating means we can continue serving Greer as a reliable utility partner and invest in new technology for the future.”
The findings also noted a strong manufacturing industry where Greer CPW provides utilities including BMW and a low unemployment rate as reasons for the improved rating.
“I’m proud to be a part of such a forward-thinking organization, said Chairman of the Board Jeff Howell. To receive a nod from a reputable company like S&P is a testament to the great work we are doing in Greer.”