...S&P Global Ratings assigned its '##+/A-1+' rating to New York City Municipal Water Finance Authority's (the authority, or New York Water) $325 million water and sewer system second general resolution revenue bonds, adjustable rate fiscal 2021 EE, subseries EE-1 and EE-2. At the same time, S&P Global Ratings affirmed its '##+' rating on New York Water's second general resolution revenue bonds and its '###' rating on the authority's first general resolution bonds. The outlook, where applicable, is stable. The long-term component of the rating reflects our view of New York Water's general creditworthiness. The short-term component of the rating reflects our view of the liquidity support provided in the form of standby bond purchase agreements (SBPAs) from U.S. Bank N.A. for subseries EE-1 and State Street Bank and Trust Co. for subseries EE-2. Each SBPA has an effective date of March 31, 2021, and provides an initial coverage for principal and 35 days of interest at a maximum annual rate of...
