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

S&P Global Ratings assigned its 'AA+' rating to New York City Municipal Finance Water Authority's (New York Water) $450 million series 2022AA water and sewer system second general resolution revenue bonds. We are also affirming our 'AAA' long-term underlying rating on New York Water's outstanding first general resolution debt, as well as our 'AA+' rating on the system's existing second general resolution debt. The 'AA+' long-term rating reflects our view of the general creditworthiness of New York Water. We rate the first general resolution (senior) issues 'AAA'. We maintain a one-notch difference between the first and second general resolution bonds based primarily on the active utilization of both, even if most of the outstanding debt is second in priority. New

...S&P Global Ratings assigned its '##+' rating to New York City Municipal Finance Water Authority's (New York Water) $450 million series 2022AA water and sewer system second general resolution revenue bonds. We are also affirming our '###' long-term underlying rating on New York Water's outstanding first general resolution debt, as well as our '##+' rating on the system's existing second general resolution debt. The '##+' long-term rating reflects our view of the general creditworthiness of New York Water. We rate the first general resolution (senior) issues '###'. We maintain a one-notch difference between the first and second general resolution bonds based primarily on the active utilization of both, even if most of the outstanding debt is second in priority. New York Water has outstanding approximately $889.9 million in first general resolution bonds and $30.7 billion in second general resolution bonds. The outlook on the long-term debt is stable. New York Water plans to use bond proceeds...

Summary