City of Winder Receives Strong Credit Ratings from S&P Global Ratings and Moody’s Ahead of Reservoir Bond Issuance 

Winder, GA — The City of Winder is proud to announce that two of the nation’s leading credit rating agencies, S&P Global Ratings and Moody’s Ratings, have issued strong ratings for the City’s Water and Sewer Enterprise in advance of the upcoming $62.3 million Series 2025 Water and Sewer Revenue Bond issuance, which will help finance the City’s transformational 1-billion-gallon quarry reservoir project. 

S&P Global Ratings has assigned the City an AA- rating with a stable outlook, citing Winder’s very strong liquidity, extremely strong projected debt-service coverage, and continued customer growth in both water and sewer systems. 

The report also highlights that the new reservoir, when completed, secures long-term water supplies for the region. 

Moody’s Ratings has assigned an initial Aa3 rating to both the Series 2025 bonds and the City itself, highlighting Winder’s expanding customer base, strong financial operations, and the enterprise’s healthy liquidity in fiscal year 2025. 

Moody’s also emphasized that the reservoir project will “significantly increase Winder’s water capacity” and support long-term population growth. 

Together, these strong ratings place Winder among the highest-rated water and sewer systems of its size in Georgia. 

“This is a tremendous accomplishment for the City of Winder,” said Jonathan Lynn, City Administrator. “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. Most importantly, strong ratings directly translate into direct major savings as we move forward with the bond issuance for the 1-billion-gallon reservoir. Every dollar we save on financing is a dollar that stays in our community.” 

The upcoming bond issuance will help fund Winder’s share of the $90 million quarry reservoir project, a joint initiative with the City of Auburn. Construction is already underway, with completion anticipated by late 2027. 

The new reservoir, one of the largest regional water infrastructure projects in northeast Georgia, will secure water availability for decades and support continued growth across Barrow County and the surrounding region. 

Both rating agencies note that Winder’s long-term rate plan, conservative management practices, and multi-year financial planning have supported strong cash reserves and stable operations. The City’s proactive approach ensures that debt remains manageable while advancing major capital projects critical to the region’s future.