S&P Global Ratings assigned its 'A-' long-term rating to the Houston County Water Authority, Ala.'s series 2020 water revenue bonds. The outlook is stable. Net revenues of the water and sewer system secure the approximately $1.565 million series 2020 bonds. After the issuance, the Houston County Water Authority will have approximately $7.4 million in outstanding revenue debt. Officials intend to use series 2020 bond proceeds to make improvements to the system, mainly in the form of a new well. The authority indicates it has not entered into any direct-purchase bank debt. The stable outlook reflects our opinion that planned rate adjustments and growth will allow the authority to maintain all-in debt service coverage (DSC) at levels that we consider very
