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) 2020 series FF and GG water and sewer system second general resolution revenue bonds. At the same time, S&P Global Ratings 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. In addition, S&P Global Ratings affirmed its 'A-1+' rating on NYCMWFA's commercial paper (CP) program. We also affirmed various short-term ratings on NYCMWFA's second-resolution bonds, whose ratings are based on the liquidity support provided by various financial institutions. We consider the outlook for all the long-term ratings currently stable given our belief

...S&P Global Ratings assigned its '##+' rating to the New York City Municipal Water Finance Authority's (NYCMWFA, or New York Water) 2020 series FF and GG water and sewer system second general resolution revenue bonds. At the same time, S&P Global Ratings affirmed its '###' unenhanced long-term rating on the system's first general resolution revenue bonds and its '##+' underlying ratings (SPURs) on the authority's existing second-resolution bonds. In addition, S&P Global Ratings affirmed its 'A-1+' rating on NYCMWFA's commercial paper (CP) program. We also affirmed various short-term ratings on NYCMWFA's second-resolution bonds, whose ratings are based on the liquidity support provided by various financial institutions. We consider the outlook for all the long-term ratings currently stable given our belief that NYCMWFA has significant financial capability to weather immediate revenue effects which are currently being exacerbated by the response to COVID-19. The outlook or rating could change...

Summary