...S&P Global Ratings assigned its '###' rating to Charleston, S.C.'s series 2019 waterworks and sewer system capital improvements revenue bonds. Additionally, we affirmed our '###' rating on the system's existing revenue bonds. The outlook is stable. The rating reflects our assessment of the system's enterprise and financial risk profiles as extremely strong. 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; + Very low industry risk as a monopolistic service provider of an essential public utility; + Moderately affordable combined rates representing 2.1% of median household effective buying income (MHHEBI); and + Strong Operational Management Assessment (OMA, where we view the system as a '1' on a six point scale with '1' being the strongest and '6' the weakest), which, in our opinion, implies overall alignment among the system's operational characteristics and that its...
