S&P Global Ratings Affirms Macon Water Authority’s AA Credit Rating, Stable Outlook

MACON, Ga. (October 15, 2026) — The Macon Water Authority (MWA) has maintained its strong financial standing, with S&P Global Ratings affirming the Authority’s AA long-term credit rating with a stable outlook.

The independent credit rating agency announced its assessment on October 14, 2026, as part of its review of MWA’s Series 2026A adjustable-mode water and sewer revenue refunding and improvement bonds.

S&P assigned an AA/A-1+ rating to the new bonds while also affirming the Authority’s existing AA long-term rating on its fixed-rate water and sewer revenue bonds and AA/A-1+ rating on its Series 2018B adjustable-mode bonds.

The AA rating reflects a strong capacity to meet financial obligations, while the stable outlook indicates S&P’s expectation that MWA will sustain its financial performance over the outlook period.

In its assessment, S&P highlighted the Authority’s strong liquidity and debt-service coverage, along with its ability to support ongoing infrastructure investments through financial planning and future revenue adjustments.

Maintaining strong credit quality is important as MWA continues investing in the water and wastewater infrastructure serving Macon-Bibb County and surrounding communities. Credit ratings help lenders and investors evaluate financial risk and can influence borrowing costs when utilities finance major capital improvements.

The Authority’s financial position also supports its long-term efforts to maintain reliable water and wastewater services while addressing aging infrastructure and future system needs.

S&P identified growing debt associated with capital improvements and the potential for higher-than-anticipated infrastructure costs as factors requiring continued financial management.

The reaffirmation provides an independent assessment of MWA’s financial standing as the Authority continues planning and implementing improvements to its water and wastewater systems.

Read the S&P Global Ratings report:

Macon Water Authority, GA 2026A Adjustable Mode W | S&P Global Ratings

Media Contact
Rachad Hollis
Communications Specialist
Macon Water Authority
478-464-5600
rhollis@maconwater.org