...SAN FRANCISCO (S&P Global Ratings) March 29, 2019--S&P Global Ratings assigned its '##+' long-term rating to Cleveland's series DD water revenue bonds. At the same time, S&P Global Ratings affirmed its '##+' long-term rating on the city's outstanding senior-lien water revenue bonds and its '##' long-term rating on the city's second-lien water revenue refunding bonds. The outlook is stable. The ratings reflect our opinion of the water system's very strong enterprise risk profile and extremely strong financial risk profile. "The enterprise risk profile reflects our view of the system's large and diverse service area, affordable water rates, and stable operations, while the financial risk profile reflects our view of such factors as the system's exceptionally strong coverage, robust liquidity, and closed flow of water division funds," said S&P Global Ratings credit analyst Chloe Weil. The series DD bonds are fixed-rate bonds whose proceeds will be used to refund two series of direct purchase...
