...S&P Global Ratings assigned its '##' rating to Omaha, Neb.'s series 2019 sanitary sewerage system revenue refunding bonds and affirmed its '##' rating on the city's sewerage system revenue debt outstanding. The outlook is stable. The rating reflects our opinion of the combination of very strong enterprise-risk and very strong financial-risk profiles and our view of the size of the system's capital plan and combined-sewer-overflow (CSO) program that will require significant additional debt and rate increases, pressuring long-term finances. The enterprise-risk profile reflects our opinion of the system's: + Very strong service-area economy, anchored by its participation in the broad and diverse Omaha-Council Bluffs metropolitan statistical area (MSA) economy; + Very low industry risk as a monopolistic service provider of an essential public utility; + Service rates, which we currently consider affordable in the context of service-area income; and + Strong operational management practices...
