...September 19, 2023 NEW YORK (S&P Global Ratings) Sept. 19, 2023--S&P Global Ratings assigned its '##+' rating to the New York City Municipal Water Finance Authority's 2024 series ##-1, 2, and 3 water and sewer system second general resolution revenue bonds, issued on behalf of New York Water. At the same time, S&P Global Ratings affirmed its '###' rating on the authority's first general resolution bonds, its '##+' rating on the authority's second general resolution bonds, its 'A-1+' commercial paper program, and its 'A-1+' and 'A-1' short-term ratings on the system's various debt where there is a liquidity provider, where applicable. The outlook, where applicable, is stable. "The stable outlook reflects our belief that New York Water will retain the financial capacity to weather the effects of a potential recession, inflation, and other system challenges," said S&P Global Ratings credit analyst Scott Garrigan. If the large amount of accounts receivable and lack of lien sale revenues leads...
