S&P Global Ratings assigned its 'A' long-term rating to Woonsocket, R.I.'s 2017 safe drinking water revolving fund revenue bonds. The rating reflects a strong enterprise risk profile and very strong financial risk profile, in our opinion. The outlook is stable. The strong enterprise risk profile reflects the system's: Relatively stable and diverse customer base with adequate local income levels; Affordable rates relative to service area wealth levels and poverty rate; Restrictions on rate-setting flexibility due to the need for Public Utilities Commission (PUC) approval; and Standard operational management practices. The very strong financial risk profile reflects the system's: Exceptionally strong all-in coverage of over 2x in recent years; Very strong liquidity with other $12.8 million in available reserves at the
