S&P Global Ratings assigned its 'AA+/A-1' rating to the New York City Municipal Water Finance Authority 's (also known as New York Water [NYW]) $175 million 2026 subseries CC water and sewer system second general resolution revenue bonds. The outlook is stable. NEW YORK (S&P Global Ratings) Jan. 20, 2026--S&P Global Ratings today took the rating actions listed above. New York Water is faced with numerous ongoing environmental, social, and governance (ESG) factors that affect our analysis. We believe the system has outsized environmental risks, given the regulatory and climate-resilience efforts that will be required to maintain its infrastructure at adequate levels. The management and governance structure--with separate entities for operations, governance, and finance--has allowed for critical and apolitical decision-making,
