S&P Global Ratings assigned its 'AAA' long-term rating to Huntsville, Ala.'s $14.4 million series 2024 water revenue warrants. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on the water system's previously issued warrants. The outlook is stable. The city's senior-lien net water system revenue secures the warrants, which are on parity with its series 2015, 2016, 2021-A, and 2021-B warrants. The city's subordinate-lien net revenue secures the series 2021 and 2023 state revolving fund loans. Officials will use series 2024 warrant proceeds to fund various capital improvements. The water system had $115 million in total debt outstanding on Sept. 30, 2023. The rating on Huntsville's water system is supported by a large customer base, water supply
