S&P Global Ratings assigned its 'AA' rating to Metropolitan District of Hartford County (MDC), Conn.'s $100 million general obligation (GO) bonds, Issue of 2025. At the same time, S&P Global Ratings affirmed its rating on MDC's outstanding GO and clean water project (CWP) revenue bonds. The outlook is stable. The district's full-faith-and-credit pledge secures the GO bonds. The clean water project charge (CWPC) revenue secures the revenue-supported bonds. The CWPC is available only to pay debt service on CWP-related debt and to pay capital expenditures for CWP projects. The surcharge is not available to pay district operating expenses. Under the special obligation indenture that governs the CWP revenue bonds, the rate covenant requires the district to ensure pledged revenue available
