...S&P Global Ratings assigned its 'A+' long-term rating to Goshen, Ind.'s approximately $20.76 million series 2020 sewage works refunding revenue bonds. At the same time, S&P Global Ratings affirmed its 'A+' rating on the city's existing sewer revenue bonds. The outlook is stable. The series 2020 refunding bonds are payable from the net revenue of the sewage works. Officials intend to use the series 2020 bond proceeds to refund $23.9 million of outstanding sewage works revenue bonds of 2009, series A, scheduled to mature Jan. 1, 2031. The series 2020 refunding bonds issued, and any bonds hereafter issued on a parity therewith, shall constitute a first charge on all the net revenues, on a parity with the outstanding bonds. Other bond provisions include a rate covenant that states the city will establish and maintain just and equitable rates and charges to provide for the proper operation, repair, and maintenance of the sewage works, and to comply with and satisfy all covenants in the bond...
