S&P Global Ratings assigned its 'AAA' rating to St. Johns County (SJCUD), Fla.'s series 2022 water and sewer revenue bonds. At the same time, we affirmed our 'AAA' long-term rating on the county's water and sewer parity water and sewer revenue debt outstanding. Total system debt after this issuance is about $319 million. The outlook is stable. The series 2022 bonds are secured by a pledge of the net revenues of the city's water and sewer system, on parity with all existing bonds. Pledged funds do not include net revenues on deposit in the rebate fund or connection charges on deposit in the stabilization account. Proceeds of the approximately $120.1 million issuance will be used to provide funding for growth-related
