S&P Global Ratings assigned its 'AA+' rating to the New York City Municipal Water Finance Authority's (New York Water [NYW]) anticipated $900 million fiscal 2025 series AA, subseries AA-1 and AA-2 water and sewer system second general resolution revenue bonds, issued on behalf of New York Water. At the same time, we affirmed our 'AAA' rating on the authority's first general resolution bonds, our 'AA+' rating on its second general resolution bonds, and our 'A-1+' commercial paper (CP) program rating. Finally, we affirmed our 'A-1+' and 'A-1' short-term ratings on the system's outstanding debt, where applicable, based on the liquidity provider's short-term rating. The outlook, where applicable, is stable. All bondholders benefit from a gross revenue pledge and a statutory,
