CHICAGO (S&P Global Ratings) June 17, 2020--S&P Global Ratings said today that it thinks COVID-19 has not had an effect on Cincinnati, Ohio's senior-lien water system revenue debt rating. Cincinnati officials are planning to issue series 2020A senior-lien bonds to refund previously issued water system revenue debt, totaling roughly $51.165 million. (For the analysis of this debt, please see the analysis, published March 9, 2020, on RatingsDirect.) Although limited revenue volatility is likely for all customer classes, S&P Global Ratings' thinks the system's overall finances are unlikely to experience significant decreases. The rating service attributes this to COVID-19 due to management's conservative budgeting, which has resulted in a continued extremely strong financial-risk profile, in its opinion. Cincinnati's diverse water system
