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Summary: New York City Municipal Water Finance Authority; Water/Sewer Jun 11 Product Image

Summary: New York City Municipal Water Finance Authority; Water/Sewer Jun 11

  • ID: 1822730
  • June 2011
  • Region: New York
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating and stable outlook to the New York City Municipal Water Finance Authority's (NYCMWFA) series 2011HH bonds. We also affirmed the 'AAA' and 'AA+' long-term and underlying ratings (SPURs), with a stable outlook, on the authority's existing first- and second-resolution bonds, respectively. The ratings on the first- and second-resolution bonds reflect our view of: The credit strengths provided by the issuer's legal and structural features; A gross pledge of revenues that results in true separation from the utility's operating function when combined with the New York City Water Board's ability to raise rates (a true-up mechanism) and the segregation of funds; The system's fundamental strengths, characterized by a large customer base,...

Companies mentioned in this report are:
- New York City Mun Wtr Fin Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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