...S&P Global Ratings raised its long-term rating on the Allegheny County Sanitary Authority (ALCOSAN), Pa.'s outstanding revenue debt to 'A+' from 'A'. At the same time, we assigned our 'A+' rating to the authority's series 2018 sewer revenue bonds. The rating reflects our opinion of the authority's very strong enterprise and financial risk profiles. The outlook is stable. The upgrade is a result of ALCOSAN's extensive capital and financial planning in anticipation of the most capital-intensive period of implementing the Wet Weather Plan (WWP), ALCOSAN's plan to meet the terms of the consent decree to reduce combined and sanitary sewer overflows. It also reflects successful collaboration with the U.S. Environmental Protection Agency (EPA) and Pennsylvania Department of Environmental Protection (DEP) to give ALCOSAN additional time to develop the plan as well as means to finance the investments, along with the demonstrated political will for multiyear rate increases. Our view of the enterprise...
