S&P Global Ratings Services assigned its 'AA+/A-1' and ?AA+/A-1+? rating to the New York City Municipal Water Finance Authority ?s (Authority; a/k/a New York Water [NYW]2025 subseries EE-1 and 2025 subseries EE-2 water and sewer system second general resolution revenue bonds, respectively. The outlook is stable. The outlook is stable. All bondholders benefit from a gross revenue pledge and a statutory, perfected lien. The second-resolution bonds do not benefit from a debt service reserve fund. NYW plans to use series 2025EE bond proceeds to finance capital projects. Current law does not authorize NYW or the board to declare bankruptcy. While we don?t rate to recovery, we consider the presence of a statutorily perfected lien and limitations around bankruptcy as positive
