S&P Global Ratings affirmed its ?A-? long-term rating on the City of Port Huron , Mich.'s water supply system revenue debt. The outlook is stable. Net revenues of the water system secure the city?s bonds outstanding. The water system has about $10 million in outstanding debt. The rating reflects our recognition that unrestricted cash reserves have materially declined to $372,000 in fiscal 2024 from $1.5 million in fiscal 2022 but are expected to improve sharply on completion of the fiscal 2025 audit. The improvement is primarily spurred by a slowdown in capital asset purchases and the timing of ongoing projects. Based on unaudited management cash flow statements, unrestricted cash is projected to rise to approximately $1.6 million in fiscal 2025.
