S&P Global Ratings assigned its 'AA-' long-term rating to Dayton, Ohio's 2022 water system revenue bonds, with a preliminary par amount of $21.5 million. At the same time, S&P Global Ratings affirmed its 'AA-' long-term rating on the city's previously issued water system revenue bonds. The water system will support slightly less than $60 million in revenue and general obligation bonds following the 2022 issuance. The outlook is stable. A senior lien on net revenue of the city's water system secures the 2022 bonds and parity obligations. The 2022 bond proceeds will finance various capital improvements, including main replacements and other projects under its asset management plan. The rating reflects our view of the system's broad service area, including retail
