...S&P Global Ratings raised its ratings on Cleveland, Ohio's senior-lien water revenue debt one notch to '##+' from '##' and second-lien water revenue debt one notch to '##' from '##-'. The outlook is stable. At the same time, S&P Global Ratings assigned its '##+' rating and stable outlook to the city's series 2017BB and 2017CC senior-lien water revenue refunding bonds and its '##' rating and stable outlook to the city's series 2017B second-lien water revenue refunding bonds. The rating reflects, in our opinion, the combination of a very strong enterprise risk profile and an extremely strong financial risk profile. The rating action reflects our view of the waterworks system's continued strong financial performance, resulting in extremely strong all-in debt service coverage (DSC) and liquidity, and our expectation that these trends will continue. The rating action also reflects our opinion of the diversity of the user base, which extends well beyond Cleveland's city limits. Revenue from Cleveland...
