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

S&P Global Ratings assigned its 'AA-' rating to Metropolitan District Hartford County (MDC), Conn.'s clean water project (CWP) $79.5 million series 2021A tax-exempt revenue bonds, and $135.8 million series 2021B 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 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

...S&P Global Ratings assigned its '##-' rating to Metropolitan District Hartford County (MDC), Conn.'s clean water project (CWP) $79.5 million series 2021A tax-exempt revenue bonds, and $135.8 million series 2021B 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 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 The indenture permits surcharge revenues in the rate-stabilization fund (RSF) to be withdrawn to pay CWP capital expenditures.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 $13.4 million of the 2021A bond proceeds will be used to reimburse the district for CWP engineering and consulting costs;...

Summary