WINDER, Ga. — The City of Winder received strong credit ratings from S&P Global Ratings and Moody’s Ratings, ahead of issuing a $62.3 million bond issuance to fund a major reservoir project.
S&P Global Ratings assigned an AA- rating with a stable outlook, while Moody’s Ratings gave an Aa3 rating.
These ratings reflect Winder’s strong financial management and the anticipated benefits of the upcoming reservoir project, which will secure long-term water supplies and support population growth.
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“This is a tremendous accomplishment for the City of Winder,” Jonathan Lynn, city administrator, said in a statement. “These ratings reflect the strength of our dedicated staff, sound financial management practices that have been put in place, the stability of our water and sewer enterprise and the long-term planning that has positioned our community for success.”
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The reservoir project, a joint initiative with the City of Auburn, is already under construction and is expected to be completed by late 2027.
It is one of the largest regional water infrastructure projects in northeast Georgia.
Both S&P Global Ratings and Moody’s Ratings highlighted Winder’s expanding customer base and strong financial operations as key factors in their assessments.
The new reservoir will significantly increase Winder’s water capacity, supporting long-term population growth and ensuring water availability for decades.
Officials said the bond issuance will help fund Winder’s share of the $90 million quarry reservoir project. The strong credit ratings are expected to result in major savings on financing costs.
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