...DALLAS (S&P Global Ratings) Sept. 27, 2018--S&P Global Ratings assigned its '##-' rating to Atlanta's series 2018C water and wastewater revenue refunding bonds. At the same time, S&P Global Ratings affirmed its '##-' long-term rating on the city's water and wastewater system revenue bonds outstanding. The outlook is stable. "The rating reflects our opinion of the system's very strong enterprise and financial risk profiles," said S&P Global Ratings credit analyst Ted Chapman. Bond proceeds will refund Atlanta's variable-rate series 2013 water and wastewater revenue bonds. Atlanta's Department of Watershed Management (DWM) serves over 150,000 metered water accounts within and south of the city, as well as providing wholesale service to portions of Clayton, Fayette, and Coweta counties. All told, Atlanta provides water to a 650-square-mile area for an estimated population of about 1.5 million, roughly triple the size of the city itself. The stable outlook reflects our expectation that the...
