New York City Municipal Water Finance Authority's 2016AA Bonds Rated 'AA+'

DALLAS (Standard&Poor's) Oct. 23, 2015--Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to New York City Municipal Water Finance Authority's (NYCMWFA) series 2016AA subseries 1, 2, and 3 second general resolution water and sewer system revenue bonds. We also affirmed our 'AA+' underlying ratings (SPURs) on the authority's existing second-resolution bonds, as well as our 'AAA' unenhanced long-term rating on the system's first general resolution revenue bonds. Separately, Standard&Poor's revised the rating on the authority's series 2006D bonds to 'AAA' from 'AA+'. "The stable outlook on all ratings reflects Standard&Poor's expectation that the system's financial profile will remain commensurate with the ratings over our two-year horizon," said Standard&Poor's credit analyst

...DALLAS (Standard & Poor's) Oct. 23, 2015--Standard & Poor's Ratings Services assigned its '##+' long-term rating to New York City Municipal Water Finance Authority's (NYCMWFA) series 2016AA subseries 1, 2, and 3 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 '###' unenhanced long-term rating on the system's first general resolution revenue bonds. Separately, Standard & Poor's revised the rating on the authority's series 2006D bonds to '###' from '##+'. "The stable outlook on all ratings reflects Standard & Poor's 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 from the 2016AA bonds will be used to convert outstanding commercial paper notes to long-term debt. The series ##-1, ##-2, and ##-3 bonds are supported by individual...

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