Metropolitan District Hartford County, CT Clean Water Project Bond Rating Raised To 'AA' On Strong Management

NEW YORK (S&P Global Ratings) Aug. 10, 2022--S&P Global Ratings raised its rating on Metropolitan District Hartford County (MDC), Conn.'s outstanding clean water project (CWP) revenue and revenue refunding bonds outstanding to 'AA' from 'AA-' and affirmed its 'AA' rating on MDC's GO bonds outstanding. At the same time, we assigned our 'AA' rating to MDC's $86.2 million general obligation (GO) bonds, issue of 2022, series A. The outlook is stable. "The raised rating on the CWP bonds reflects our view that all of MDC's debt benefits from management's ability to finance its operations from diverse revenue stream that includes ad valorem taxes, providing additional support in our analysis given the relative stability of those revenues," said S&P Global Ratings

...August 10, 2022 NEW YORK (S&P Global Ratings) Aug. 10, 2022--S&P Global Ratings raised its rating on Metropolitan District Hartford County (MDC), Conn.'s outstanding clean water project (CWP) revenue and revenue refunding bonds outstanding to '##' from '##-' and affirmed its '##' rating on MDC's GO bonds outstanding. At the same time, we assigned our '##' rating to MDC's $86.2 million general obligation (GO) bonds, issue of 2022, series A. The outlook is stable. "The raised rating on the CWP bonds reflects our view that all of MDC's debt benefits from management's ability to finance its operations from diverse revenue stream that includes ad valorem taxes, providing additional support in our analysis given the relative stability of those revenues," said S&P Global Ratings credit analyst Scott Garrigan. With these rating actions, none of our ratings are under criteria observation any longer. The district's full faith and credit pledge secures the GO bonds. The clean water project charge...

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