S&P Global Ratings assigned its'A-'long-term rating to the Town of Carrollton , Missouri’s $3.67 million series 2026 sewer system refunding revenue bonds. The outlook is stable. A pledge of the town water system’s net revenues secures the bonds. Bond provisions include a rate covenant of 1.10x. The bonds will maintain a surety in lieu of a debt service reserve fund. The series 2026 bonds will refund all of the system’s debt outstanding. The sewer system had $3.59 million debt outstanding as of fiscal 2025 and we do not expect this to change significantly under the refunding. Historically, the system’s coverage remained steady, averaging a healthy 1.28x from fiscal years 2023 through 2025. The town projects coverage to improve
