MISI Score
28.0
Watch
Project NC / Northampton County
BOTH · Northampton CountyDistressedPWSID NC0466035
MISI Score
28.0
Watch
Score Confidence
0.8%
Peer Percentile
64.9th
As of
Apr 23, 2026
EXPLANATION
MARKET INTERPRETATION
Seaboard is a smaller community water system, serving approximately 881 residents. At the latest reading, Munimetric flags the system as showing early but meaningful signs of structural stress.
The score is being driven mainly by Revenue Fragility, which is running high in the model, with Capex Pressure adding further pressure. In other words, Revenue Fragility is doing most of the heavy lifting in the headline score.
5 active stress signals are attached to this system, including 4 at high severity. That signal mix points to a system where several warning indicators are firing at once, not just one extreme outlier.
Within its peer cohort, this system ranks around the 65th percentile on measured stress, placing it above most of its peers on measured stress, though not yet in the most extreme tier.
Recent score history has been relatively steady, consistent with the system's overall profile.
This summary is based on structured, source-backed public data and is intended for research and monitoring only. It is not investment advice, a credit opinion, or municipal advisory guidance.
SCORE STACK
SL 2020-79
| 2024 | 2023 | 2022 | 2021 | 2019 |
|---|---|---|---|---|
| 7 | 3 | 5 | 6 | 9 |
ACTIVE SIGNALS
A shrinking served population weakens the customer base and raises infrastructure cost per customer.
Score impact: 10.0 · Family: Revenue Fragility
Weak unrestricted liquidity reduces the utility's ability to absorb rate, capex, or operating shocks.
Score impact: 2.0 · Family: Revenue Fragility
Active drought conditions stress source-water availability and treatment operations.
Score impact: 4.0 · Family: Operational Stress
Lead and copper exceedances and replacement obligations can drive near-term treatment and capital pressure.
Score impact: 8.0 · Family: Capex Pressure
High-AGI outmigration erodes the rate base and compresses affordability headroom.
Score impact: 4.0 · Family: Revenue Fragility
HISTORY
Latest
28.0
Trend
+28.0
Observations
20
NC TREASURER FBA
Days Cash on Hand
103
Days Cash As Of
Jun 30, 2024
Population Served
881