S&P Global Ratings raised its long-term rating to 'AA-' from 'A+' on the Allegheny County Sanitary Authority (ALCOSAN), Pa.'s outstanding sewer revenue bonds. Additionally, S&P Global Ratings has assigned its 'AA-' rating to ALCOSAN's $300 million series 2022 sewer revenue bonds. The upgrade reflects additional clarity on the authority's large capital improvement program (CIP) and potential effects on future financial metrics, as well as a demonstrated willingness to adjust rates to maintain the current level of financial operation with increasing annual debt service requirements. There is approximately $940 million in debt outstanding after the 2022 issuance. The outlook is stable. The 2022 series will be secured by the net revenues of the sewer system. The bonds proceeds will fund a
