...SAN FRANCISCO (S&P Global Ratings) May 30, 2017--S&P Global Ratings revised its outlook to positive from stable and affirmed its '##-' long-term rating on Pacifica, Calif.'s existing wastewater revenue bonds. At the same time, we assigned our '##-' long-term rating, with a positive outlook, to the city's series 2017 wastewater revenue bonds. The rating reflects, in our opinion, the combination of a very strong enterprise risk profile and a very strong financial risk profile. The city is issuing the series 2017 bonds to finance capital improvements to the wastewater system, primarily a wet weather flow equalization basin. "We revised our outlook to positive based on the city making adequate progress toward completing its obligations under the 2011 Regional Water Quality Control Board settlement and consent decree in a timely manner, in combination with city council recently approving a five-year rate schedule that we anticipate will provide the necessary revenues to fund the capital program...
