S&P Global Ratings assigned its 'AAA' rating to Huntsville, Ala.'s series 2016 water revenue warrants and affirmed its 'AAA' rating on the system's existing warrants. The outlook is stable. The rating reflects the extremely strong enterprise risk profile and the very strong financial risk profile. The enterprise risk profile reflects our opinion of the system's: Participation in the broad and diverse Huntsville metropolitan statistical area (MSA), along with access to the Redstone Arsenal providing a stabilizing factor; Very low industry risk; Very affordable rates as the water rate represents 0.6% of median household effective buying income (MHHEBI), and A "strong" operational management assessment (OMA). The financial risk profile reflects our opinion of the system's: Historically strong financial profile, including strong
