...S&P Global Ratings assigned its '##' rating to Omaha, Neb.'s $80.2 million tax-exempt 2020A and $129.7 million taxable series 2020B and series 2019 sanitary sewerage system revenue refunding bonds. At the same time, S&P Global Ratings affirmed its '##' rating on the city's sewerage system revenue debt outstanding. The outlook is stable. Omaha will use the bond proceeds to refund existing sanitary sewerage system revenue refunding bonds. Following the issuance, the city's sewerage system will be supporting approximately $564 million of debt outstanding. The city will liquidate its debt service reserve fund and meet debt service reserves requirements with a surety policy. We believe management has many robust financial policies to ensure strong performance that far exceeds minimum covenanted requirements each year, including setting rates to maintain extremely strong maximum annual debt service (MADS) coverage....
