New York City Municipal Water Finance Authority 2018EE Bonds Assigned 'AA+' Rating

NEW YORK (S&P Global Ratings) March 21, 2018--S&P Global Ratings assigned its 'AA+' rating to the New York City Municipal Water Finance Authority's (NYCMWFA, or New York Water) series 2018EE water and sewer system second general resolution revenue bonds. The outlook is stable for all long-term ratings. "The very strong enterprise risk profile assessment reflects our view of New York Water's exceptionally broad and diverse economic and customer base, rates that remain affordable, despite ongoing increases; and strong operational management," said S&P Global Ratings credit analyst Scott Garrigan. The 2018EE bond proceeds will be used to refund certain outstanding first- and second-resolution bonds. The system serves about 835,000 accounts, primarily in New York's five boroughs, all but 4% of which

...NEW YORK (S&P Global Ratings) March 21, 2018--S&P Global Ratings assigned its '##+' rating to the New York City Municipal Water Finance Authority's (NYCMWFA, or New York Water) series 2018EE water and sewer system second general resolution revenue bonds. The outlook is stable for all long-term ratings. "The very strong enterprise risk profile assessment reflects our view of New York Water's exceptionally broad and diverse economic and customer base, rates that remain affordable, despite ongoing increases; and strong operational management," said S&P Global Ratings credit analyst Scott Garrigan. The 2018EE bond proceeds will be used to refund certain outstanding first- and second-resolution bonds. The system serves about 835,000 accounts, primarily in New York's five boroughs, all but 4% of which are metered. In addition, the authority provides water to about 1 million customers in Westchester, Putnam, Orange, and Ulster counties, and is required to make service available to any county in...

Ratings Action