Standard&Poor's Ratings Services assigned its 'AAA' rating to Cincinnati, Ohio's series 2015A, B, and C water system revenue and refunding bonds. We also affirmed our 'AAA' rating on the city's other parity water debt and our 'AA+' rating on its subordinate-lien water revenue bonds, which will be refunded on closing of the 2015B refunding bonds. The outlook on all ratings is stable. The ratings reflect our view of the city's following characteristics: Wide service area with a deep and diverse employment base; Good financial performance; Inclusion of several operational redundancies at all levels of the water system that help to stabilize operations, in our view; Competitive water rates--although combined water and sewer rates, especially for city residents, are
