Oklahoma Water Resources Board Series 2024A Revenue Bonds Rated 'AAA'; Other Ratings Affirmed At 'AAA'

NEW YORK (S&P Global Ratings) Jan. 16, 2024--S&P Global Ratings assigned its 'AAA' rating to the Oklahoma Water Resources Board's (OWRB) anticipated $78.805 million state loan program revenue bonds, series 2024A. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on OWRB's state loan revenue bonds outstanding. The outlook is stable. "The rating reflects our view of OWRB's credit strengths, including a long history of borrower repayment with no defaults in program history and no recent delinquencies, as well as generally strong financial policies and practices," said S&P Global Ratings credit analyst Autumn Mascio. The rating further reflects our view of the credit support that the WICERF provides to cure any potential defaults by the program's borrowers,

...January 16, 2024 NEW YORK (S&P Global Ratings) Jan. 16, 2024--S&P Global Ratings assigned its '###' rating to the Oklahoma Water Resources Board's (OWRB) anticipated $78.805 million state loan program revenue bonds, series 2024A. At the same time, S&P Global Ratings affirmed its '###' long-term rating on OWRB's state loan revenue bonds outstanding. The outlook is stable. "The rating reflects our view of OWRB's credit strengths, including a long history of borrower repayment with no defaults in program history and no recent delinquencies, as well as generally strong financial policies and practices," said S&P Global Ratings credit analyst Autumn Mascio. The rating further reflects our view of the credit support that the WICERF provides to cure any potential defaults by the program's borrowers, and the program's extremely strong loss coverage score as determined per our criteria, which reflects the combination of ample program reserves and annual coverage generated from borrowers that we...

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