Summary: Metropolitan Government of Nashville And Davidson County, Tennessee; CP

S&P Global Ratings assigned its 'A-1+' short-term rating to the  Metropolitan Government of Nashville and Davidson County (Metro Water), Tenn.'s series 2022 water and sewer revenue commercial paper (CP) notes, with a maximum balance of $200 million. At the same time, S&P Global Ratings affirmed its 'A-1+' short-term rating on Metro Water's series A CP notes, with a maximum balance of $100 million, and 2015 extendible CP (ECP) program, also with a maximum balance of $200 million, as amended. CP notes issued under both programs are secured by a second-lien pledge of the net revenue of the government's waterworks and sanitary sewer system, which does business as Metro Water System. CP notes are used to provide interim financing for various capital

...S&P Global Ratings assigned its 'A-1+' short-term rating to the Metropolitan Government of Nashville and Davidson County (Metro Water), Tenn.'s series 2022 water and sewer revenue commercial paper (CP) notes, with a maximum balance of $200 million. At the same time, S&P Global Ratings affirmed its 'A-1+' short-term rating on Metro Water's series A CP notes, with a maximum balance of $100 million, and 2015 extendible CP (ECP) program, also with a maximum balance of $200 million, as amended. CP notes issued under both programs are secured by a second-lien pledge of the net revenue of the government's waterworks and sanitary sewer system, which does business as Metro Water System. CP notes are used to provide interim financing for various capital projects. The short-term CP ratings are based on Metro Water's long-term general creditworthiness (##/Stable), reflecting our view of its financial reserves and its ability to tap capital markets to refinance its CP notes with long-term debt. We also...

Summary