Standard & Poor’s this week upgraded the rating it assigns Statesville to AA from AA-minus and maintained its stable outlook.
“The upgrade reflects the city’s strong economic growth and healthy financial position,” credit analyst Nicole Ridberg said in the rating report.
The rating also reflects Statesville’s adequate wealth and income levels, strategic location between Charlotte and Winston-Salem, steadily growing tax base, and low debt burden due to the self-supporting nature of most of its debt, the report said
Statesville is located in central Iredell County and is the county seat. Its population is about 25,000.