Summary: New York City Municipal Water Finance Authority; CP; State Revolving Funds/Pools; Water/Sewer

S&P Global Ratings assigned its 'AA+' rating to the New York City Municipal Water Finance Authority's (NYCMWFA, or New York Water) series 2018DD-1 and 2018DD-2 water and sewer system second general resolution 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 2018DD bond proceeds will be used to pay the costs of

...S&P Global Ratings assigned its '##+' rating to the New York City Municipal Water Finance Authority's (NYCMWFA, or New York Water) series 2018DD-1 and 2018DD-2 water and sewer system second general resolution revenue bonds. At the same time, we affirmed our '###' unenhanced long-term rating on the system's first general resolution revenue bonds and our '##+' 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 2018DD bond proceeds will be used to pay the costs of improvements to the system and refund certain outstanding second-resolution bonds. The difference between the long-term ratings on the first- and second-resolution bonds reflects lien priority...

Summary