Summary: Metropolitan District Hartford County, Connecticut; Water/Sewer

S&P Global Ratings assigned its 'AA-' rating to The Metropolitan District Hartford County, Conn.'s clean water project (CWP) $55 million, series 2020A, tax-exempt revenue bonds, and $76 million, series 2020B, taxable revenue refunding bonds. At the same time, S&P Global Ratings affirmed its 'AA-' long-term rating on the CWP's revenue bonds outstanding. The outlook is stable. The clean water project charge (CWPC) revenues (previously the special sewer service surcharge) secure the bonds. The CWPC is available only to pay debt service on CWP revenue, subordinate revenue, and general obligation (GO) bonds, or clean water fund borrowings issued to finance the CWP and to pay capital expenditures for the project. The surcharge is not available to pay district operating expenses. The

...S&P Global Ratings assigned its '##-' rating to The Metropolitan District Hartford County, Conn.'s clean water project (CWP) $55 million, series 2020A, tax-exempt revenue bonds, and $76 million, series 2020B, taxable revenue refunding bonds. At the same time, S&P Global Ratings affirmed its '##-' long-term rating on the CWP's revenue bonds outstanding. The outlook is stable. The clean water project charge (CWPC) revenues (previously the special sewer service surcharge) secure the bonds. The CWPC is available only to pay debt service on CWP revenue, subordinate revenue, and general obligation (GO) bonds, or clean water fund borrowings issued to finance the CWP and to pay capital expenditures for the project. The surcharge is not available to pay district operating expenses. The indenture permits surcharge revenues in the rate-stabilization fund (RSF) to be withdrawn to pay CWP capital expenditures. Approximately $20 million of the 2020A bond proceeds will be used to reimburse the district...

Summary