S&P Global Ratings assigned its'AA+'long-term rating to Honolulu City and County (the department), Hawaii's approximately $164.18 million series 2026A senior-lien refunding bonds. At the same time, we assigned our ‘AA+/A-1’ rating to the department’s $200.7 million series 2026A variable-rate junior-lien wastewater system revenue bonds. S&P Global Ratings also affirmed its'AA+'rating on the department's outstanding junior and senior wastewater system revenue bonds. The outlook is stable. The bonds are limited special obligations payable solely from and secured solely by a net revenue pledge under the department's first and second bond resolution. Series 2026A senior-lien refunding bonds will reimburse the department's series 2016A and series 2016B bonds outstanding. Series 2026A variable-rate junior-lien bonds will fund various system improvements.
