...November 4, 2019 SAN FRANCISCO (S&P Global Ratings) Nov. 4, 2019--S&P Global Ratings raised its long-term rating on Portland, Ore.'s first-lien sewer system revenue bonds to '##+' from '##', and raised its long-term rating on the city's second-lien sewer system revenue bonds to '##' from '##-'. At the same time, we assigned our '##' long-term rating to the city's series 2019A second-lien sewer system revenue bonds. The ratings reflects our opinion of the sewer system's very strong enterprise and financial risk profiles. The outlook is stable. "The upgrades reflect our view of the sewer system's improved liquidity position, which the city expects to sustain at levels that we consider extremely strong (exceeding one year's operations) for the next five years," said S&P Global Ratings credit analyst Chloe Weil. "Furthermore, the system's strong financial planning provides additional support for the rating action." Management regularly communicates its strategic goal internally and to outside...
