S&P Global Ratings assigned its 'AAA' rating to South Dakota Conservancy District's (SDCD) $162.6 million series 2024A state revolving fund (SRF) program bonds. At the same time, S&P Global Ratings affirmed its 'AAA' rating on SDCD's SRF program bonds outstanding. The outlook is stable. Officials intend to use series 2024A bond proceeds to fund new and existing loans to numerous utilities under the clean water and drinking water programs, and to pay issuance costs. Repayments made under pledged loan agreements and other various funds pledged under the master indenture secure the bonds. SDCD does not issue separate state-match and leveraged series bonds for each program, but it separates each series into a state-match and leveraged portion for each program as
