Summary: Atlanta; Water/Sewer

S&P Global Ratings assigned its 'AA-' rating to Atlanta's series 2018A water and wastewater revenue refunding bonds. In addition, we affirmed our 'AA-' long-term rating on the city's water and wastewater system revenue bonds outstanding. The rating reflects our opinion of the combination of very strong enterprise and financial risk profiles. The outlook is stable. The enterprise risk profile reflects our view of Atlanta's: Role as one of the largest economic and employment anchors in the southeastern U.S., with a metropolitan statistical area (MSA) that continues to demonstrate robust growth, depth, and diversity; Very high rates, which could be further pressured in future years should the utility system need to lessen its reliance on allocated municipal option sales tax (MOST)

...S&P Global Ratings assigned its '##-' rating to Atlanta's series 2018A water and wastewater revenue refunding bonds. In addition, we affirmed our '##-' long-term rating on the city's water and wastewater system revenue bonds outstanding. The rating reflects our opinion of the combination of very strong enterprise and financial risk profiles. The outlook is stable. The enterprise risk profile reflects our view of Atlanta's: + Role as one of the largest economic and employment anchors in the southeastern U.S., with a metropolitan statistical area (MSA) that continues to demonstrate robust growth, depth, and diversity; + Very high rates, which could be further pressured in future years should the utility system need to lessen its reliance on allocated municipal option sales tax (MOST) revenues; and + Operational management practices and policies that we consider good despite ongoing challenges related to both raw-water supply and regulatory-driven actions for its sewer system. The financial...

Summary