S&P Global Ratings assigned its'AAA'long-term rating to the City and County of Denver , Colorado's, acting by and through its Board of Water Commissioners (Denver Water), anticipated $171.4 million series 2026A water revenue refunding and improvement bonds and $50.2 million series 2026B water revenue refunding bonds. At the same time, we affirmed our'AAA'long-term rating and our'A-1+'short-term rating on Denver Water's existing water revenue bonds and existing commercial paper (CP) notes, respectively. The outlook, where applicable, is stable. The proceeds of the series 2026A and 2026B bonds will be used for new money and refunding activities, including $125 million of CP takeout, along with providing new-money needs of about $100 million for capital improvements. The
