Standard&Poor's Ratings Services assigned its 'AAA' rating to New York City Municipal Water Finance Authority's (NYCMWFA or New York Water) series 2016A water and sewer system revenue bonds. At the same time, Standard&Poor's assigned its 'AA+' rating to the authority's series 2016CC second general resolution water and sewer system revenue bonds. Standard&Poor's affirmed its 'AAA' unenhanced long-term rating on the system's first general resolution revenue bonds and its 'AA+' underlying ratings (SPURs) on the authority's existing second-resolution bonds. Additionally, Standard&Poor's affirmed its 'A-1+' rating on NYCMWFA's commercial paper (CP) program. The outlook is stable for all ratings. We understand bond proceeds will be used to refund certain of the authority's outstanding obligations.
