New York Municipal Water Finance Authority $757 Million Second General Resolution Revenue Bonds Assigned 'AA+' Rating

S&P Global Ratings assigned its 'AA+' rating to the New York City Municipal Water Finance Authority's (New York Water or the authority) anticipated $207 million and $550 million series 2024BB-1 and 2024BB-2 water and sewer system second general resolution revenue bonds. At the same time, S&P Global Ratings affirmed its: 'AAA' rating on the authority's first general resolution bonds, 'AA+' rating on the authority's second general resolution bonds, and 'A-1+' the authority's commercial paper (CP) program rating. Finally, the 'A-1+' and 'A-1' short-term ratings on the system's outstanding debt, where applicable, are based on the liquidity provider's short-term rating. The outlook, where applicable, is stable. "The 'AA+' long-term rating reflects our view of New York Water's broad, diverse, and affluent

...February 23, 2024 S&P Global Ratings assigned its '##+' rating to the New York City Municipal Water Finance Authority's (New York Water or the authority) anticipated $207 million and $550 million series 2024BB-1 and 2024BB-2 water and sewer system second general resolution revenue bonds. At the same time, S&P Global Ratings affirmed its: - '###' rating on the authority's first general resolution bonds, - '##+' rating on the authority's second general resolution bonds, and - 'A-1+' the authority's commercial paper (CP) program rating. Finally, the 'A-1+' and 'A-1' short-term ratings on the system's outstanding debt, where applicable, are based on the liquidity provider's short-term rating. The outlook, where applicable, is stable. "The '##+' long-term rating reflects our view of New York Water's broad, diverse, and affluent service area as well as its sophisticated management team," said S&P Global Ratings credit analyst Jenny Poree. "We believe New York Water faces several challenges related...

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