...DALLAS (Standard & Poor's) March 30, 2015--Standard & Poor's Ratings Services assigned its '##+' rating to New York City Municipal Water Finance Authority's (NYCMWFA) series 2015GG second general resolution water and sewer system revenue bonds. We also affirmed our '##+' underlying rating (SPUR) 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 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. The difference in the long-term ratings between the first- and second-resolution debt reflects lien priority and the active use of both liens. The long-term ratings reflect the fundamental credit strengths of the NYCMWFA, which include, in our opinion: + The bondholder protections provided by the issuer's legal and structural features, including a...
