...S&P Global Ratings assigned its '###' rating to Charleston, S.C.'s reoffering of the series 2006B waterworks and sewer system capital improvement revenue bonds. Additionally, we affirmed our '###' rating on the system's existing revenue bonds. The outlook is stable. The rating reflects the extremely strong enterprise and financial risk profiles. The enterprise risk profile reflects our view of the system's: + Service area that continues to grow and diversify with strong income indicators and low unemployment rates; + Moderately affordable combined rates representing 2.7% of median household effective buying income; + Low risk operations, characterized by ample system capacity; and + Very strong operational management. The financial risk profile reflects the system's: + Strong all-in debt service coverage (DSC) levels, + Extremely strong system liquidity, + Moderate debt to capitalization, and + Very strong financial management. The bonds are secured by a pledge of the gross revenues of...
