...DALLAS (Standard & Poor's) May 15, 2015--Standard & Poor's Ratings Services assigned its '##+' ratings to New York City Municipal Water Finance Authority's (NYCMWFA) fiscal series 2015HH second general resolution water and sewer system revenue bonds. We also affirmed our '##+' underlying ratings (SPURs) on the authority's existing second-resolution bonds, as well as our '###' long-term rating on the system's first general resolution revenue bonds. "The stable outlook on all ratings reflects our expectation that the system's financial profile will remain commensurate with the ratings over our two-year horizon," said Standard & Poor's credit analyst Theodore Chapman. Proceeds for the series 2015HH bonds will be used to refund certain maturities of various series of outstanding debt for interest-rate savings. Prior to this sale, NYCMWFA had about $4.8 billion of first-resolution debt and $25.8 billion of second-resolution debt. A first-lien pledge on the system's gross revenues secures the...
