...+ S&P Global Ratings assigned its '##+' long-term rating to New York City Municipal Water Finance Authority's (New York Water) anticipated $396.01 million series ##-1, $79.21 million series ##-2, and $274.79 million series ##-3 water and sewer system second general resolution revenue bonds. + We also affirmed our '###' rating on New York Water's approximately $790 million in outstanding first general resolution bonds and our '##+' rating on the utility's approximately $30.7 billion in outstanding second general resolution bonds. + Finally, we affirmed our 'A-1' and 'A-1+' short-term ratings on the authority's various debt. + The outlook is stable. + Despite significant challenges stemming from recessionary headwinds, policy uncertainty related to collections, and substantial capital needs, the ratings reflect our view of the utility's prudent management, a sizable and affluent customer base, and a supportive security structure that is underpinned by healthy liquidity. + The stable outlook...
