S&P Global Ratings has assigned its 'AA+' rating to the New York City Municipal Water Finance Authority's (NYCMWFA, or New York Water) series 2017AA water and sewer system revenue bonds. At the same time, we affirmed our 'AAA' unenhanced long-term rating on the system's first general resolution revenue bonds and our 'AA+' underlying ratings (SPURs) on the authority's existing second-resolution bonds. Additionally, we affirmed our 'A-1+' rating on NYCMWFA's commercial paper (CP) program. The outlook is stable for all long-term ratings. We also affirmed various short-term ratings on NYMWFA's second-resolution bonds whose ratings are based on the liquidity support provided by various financial institutions. The 2017AA bond proceeds will be used to provide funding for capital projects. The difference between
