CWA Authority Inc., IN Second-Lien Revenue Debt Rating Raised To ?AA? From ?AA-? On Improved Debt, Financial Metrics - S&P Global Ratings’ Credit Research

CWA Authority Inc., IN Second-Lien Revenue Debt Rating Raised To ?AA? From ?AA-? On Improved Debt, Financial Metrics

CWA Authority Inc., IN Second-Lien Revenue Debt Rating Raised To ?AA? From ?AA-? On Improved Debt, Financial Metrics - S&P Global Ratings’ Credit Research
CWA Authority Inc., IN Second-Lien Revenue Debt Rating Raised To ?AA? From ?AA-? On Improved Debt, Financial Metrics
Published Jun 21, 2023
3 pages (1386 words) — Published Jun 21, 2023
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Abstract:

ENGLEWOOD (S&P Global Ratings) June 21, 2023--S&P Global Ratings raised its underlying rating (SPUR) to 'AA' from 'AA-' on CWA Authority Inc. (CWA), Ind.'s second-lien revenue debt. S&P Global Ratings also assigned its 'AA' long-term rating to the Indiana Finance Authority's 2023A and 2024A series first-lien wastewater utility refunding revenue bonds, issued for CWA, totaling approximately $262 million. In addition, we affirmed our 'AA' long-term rating on the authority's debt outstanding. The outlook for all ratings is stable. "The upgrade equalizes the ratings on the first and second liens because less than 12% of the authority's total debt remains on the second lien," said S&P Global Ratings credit analyst Jaime Blansit, "and we no longer believe junior-lien bondholders are materially

  
Brief Excerpt:

...Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such...

  
Report Type:

Ratings Action

Issuer
CWA Auth Inc.
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "CWA Authority Inc., IN Second-Lien Revenue Debt Rating Raised To ?AA? From ?AA-? On Improved Debt, Financial Metrics" Jun 21, 2023. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/CWA-Authority-Inc-IN-Second-Lien-Revenue-Debt-Rating-Raised-To-AA-From-AA-On-Improved-Debt-Financial-Metrics-3010119>
  
APA:
S&P Global Ratings’ Credit Research. (). CWA Authority Inc., IN Second-Lien Revenue Debt Rating Raised To ?AA? From ?AA-? On Improved Debt, Financial Metrics Jun 21, 2023. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/CWA-Authority-Inc-IN-Second-Lien-Revenue-Debt-Rating-Raised-To-AA-From-AA-On-Improved-Debt-Financial-Metrics-3010119>
  
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