Summary: Shreveport, Louisiana; Water/Sewer

S&P Global Ratings raised its rating on Shreveport, La.'s senior-lien water and sewer revenue bonds to 'A-' from 'BBB+'. We also assigned an 'A-' rating to the city's series 2016B water and sewer revenue bonds, and a 'BBB+' rating to the series 2016C junior-lien taxable water and sewer revenue bonds. The outlook is stable. The upgrade is based on a sustainable improvement in as well as the consistency of the utility's financial performance, even with the expectation of significant amounts of debt over time to address an environmental mandate. The ratings reflect, in our opinion, the combination of strong enterprise and financial risk profiles. We have applied the primary utility criteria to determine the system's general creditworthiness (issuer credit rating)

...S&P Global Ratings raised its rating on Shreveport, La.'s senior-lien water and sewer revenue bonds to 'A-' from '###+'. We also assigned an 'A-' rating to the city's series 2016B water and sewer revenue bonds, and a '###+' rating to the series 2016C junior-lien taxable water and sewer revenue bonds. The outlook is stable. The upgrade is based on a sustainable improvement in as well as the consistency of the utility's financial performance, even with the expectation of significant amounts of debt over time to address an environmental mandate. The ratings reflect, in our opinion, the combination of strong enterprise and financial risk profiles. We have applied the primary utility criteria to determine the system's general creditworthiness (issuer credit rating) and have applied this rating to the senior-lien issues. The one-notch difference on the junior-lien rating reflects our view that in circumstances of extraordinary distress the subordinate-lien position could adversely affect those...

Summary