Oklahoma Water Resources Board Series 2023A Revolving Fund Revenue Bonds Assigned 'AAA' Rating

NEW YORK (S&P Global Ratings) March 23, 2023--S&P Global Ratings assigned its 'AAA' rating to the Oklahoma Water Resources Board's (OWRB) anticipated $175 million revolving fund revenue bonds, series 2023A (2019 Master Trust). At the same time, S&P Global Ratings affirmed its 'AAA' rating on the board's previously issued 2003 Master Trust clean water and drinking water revenue bonds and 2019 Master Trust bonds outstanding. The outlook is stable. "The 'AAA' rating reflects our view of the combination of the OWRB's extremely strong enterprise and financial risk profiles," said S&P Global Ratings credit analyst Adam Torres. The stable outlook reflects our expectation that the program will retain available funds in reserve sufficient to cover borrower defaults under our stress scenarios,

...March 23, 2023 NEW YORK (S&P Global Ratings) March 23, 2023--S&P Global Ratings assigned its '###' rating to the Oklahoma Water Resources Board's (OWRB) anticipated $175 million revolving fund revenue bonds, series 2023A (2019 Master Trust). At the same time, S&P Global Ratings affirmed its '###' rating on the board's previously issued 2003 Master Trust clean water and drinking water revenue bonds and 2019 Master Trust bonds outstanding. The outlook is stable. "The '###' rating reflects our view of the combination of the OWRB's extremely strong enterprise and financial risk profiles," said S&P Global Ratings credit analyst Adam Torres. The stable outlook reflects our expectation that the program will retain available funds in reserve sufficient to cover borrower defaults under our stress scenarios, similar to what it is now demonstrating. We likewise expect continued loan performance showing no defaults, delinquencies, and at most a small percentage of late loan payments. Although unlikely,...

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