Moody’s Investor Service has assigned an Aa3 issuer rating to the City of West Columbia’s water and sewer enterprise system.

“The credit rating has a direct impact on the interest rate that an entity receives on its financing,” according to First Tryon Advisors, the city’s financial advisor. The rating indicates that the City is a very low credit risk.

“I’m very pleased with the rating we received,” said West Columbia Mayor Bobby Horton.

He said he is proud of the city’s management and the ability to better-serve the people of West Columbia.

“To be rated at this level shows that we are fiscally responsible to our residents and it benefits them in our ability to save taxpayer dollars in the city’s financial dealings,” Horton said.

West Columbia City Administrator Brian Carter said it is the first time the City has received a credit opinion. And he is glad to see the result.

“This high credit rating demonstrates the fiscal responsibility and management of the city and its water and sewer system by the mayor, city council, and administration,” said Carter.

Moody’s will also monitor the city’s financial information and its rating could be upgraded to an even higher level.

In its assessment, Moody’s noted the following credit strengths of West Columbia’s water and sewer enterprise system:

* Stable customer base located within the Columbia MSA

* Sound financial metrics with stable cash

* Long term contracts with top users that include capital cost sharing terms

* Well established asset management plans

Also noted in the report: The City of West Columbia owns and operates the combined water and sewer system. The system is governed by the city council. The City of West Columbia is located within the growing state capital economy in Lexington County. The system services 19,700 water and 11,500 sewer customers located within the city and unincorporated areas of the county.