Allegheny County Sanitary Authority, PA Series 2024 Sewer Revenue Bonds Assigned 'AA-' Rating; Outlook Is Stable

NEW YORK (S&P Global Ratings) July 16, 2024--S&P Global Ratings has assigned its 'AA-' rating to Allegheny County Sanitary Authority (ALCOSAN), Pa.'s $330.7 million series 2024 sewer revenue bonds. At the same time, S&P Global Ratings affirmed its long-term rating of 'AA-' on the ALCOSAN's sewer revenue bonds outstanding. The outlook is stable. "The rating reflects our opinion of ALCOSAN's extensive capital and financial planning as it continues to progress through the most capital-intensive period of the Clean Water Plan, which in our view mitigates longer-term concerns on the expected decline of debt service coverage," said S&P Global Ratings credit analyst Alan Shabatay. ALCOSAN's capital plan has a goal of meeting the terms of the consent decree to reduce combined

...July 16, 2024 NEW YORK (S&P Global Ratings) July 16, 2024--S&P Global Ratings has assigned its '##-' rating to Allegheny County Sanitary Authority (ALCOSAN), Pa.'s $330.7 million series 2024 sewer revenue bonds. At the same time, S&P Global Ratings affirmed its long-term rating of '##-' on the ALCOSAN's sewer revenue bonds outstanding. The outlook is stable. "The rating reflects our opinion of ALCOSAN's extensive capital and financial planning as it continues to progress through the most capital-intensive period of the Clean Water Plan, which in our view mitigates longer-term concerns on the expected decline of debt service coverage," said S&P Global Ratings credit analyst Alan Shabatay. ALCOSAN's capital plan has a goal of meeting the terms of the consent decree to reduce combined and sanitary sewer overflows (SSOs). Our analysis incorporates our opinion of ALCOSAN's general creditworthiness and a combination of deep and robust enterprise risk and financial risk profiles; both profiles...

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