...S&P Global Ratings assigned its '###' long-term rating to the Colorado Water Resources and Power Development Authority's approximately $38 million series 2022A state revolving fund (SRF) revenue bonds. At the same time, S&P Global Ratings affirmed its '###' long-term ratings on the authority's previously issued clean and drinking water senior- and subordinate-lien debt. The outlook is stable. Proceeds from the series 2022A bonds will fund loans to governmental municipal borrowers for improvements to wastewater treatment facilities. Bond security includes loan repayments from specific borrowers, funded by their respective bond series, and excess payments from the revolving funds' leveraged and direct loan programs, as well as money from certain funds, accounts, and subaccounts. Each bond series is not legally on parity with previous authority bonds, which receive loan repayments from different borrowers. However, all senior secured bonds in the drinking water and water pollution control...
