...NEW YORK (S&P Global Ratings) Sept. 13, 2017--S&P Global Ratings assigned its 'A' long-term rating to Woonsocket, R.I.'s 2017 safe drinking water revolving fund revenue bonds. The outlook is stable. "The rating reflects a strong enterprise risk profile and very strong financial risk profile, in our opinion," said S&P Global Ratings credit analyst Erin Boeke Burke. A strong enterprise risk score and very strong financial risk score normally map to a rating of 'A+' under our water and sewer rating criteria. However, we have applied a downward adjustment due to limitations on financial flexibility and the ability to develop long-term plans as a result of Public Utility Commission (PUC) oversight of rate-setting, and liquidity limitations. Net revenues of the city's water system secure the loan. The system's customer base has been relatively stable, with over 9,500 retail customers. The majority are in Woonsocket; the system also serves retail and wholesale customers in North Smithfield and...
