New York City Municipal Water Finance Authority's 2012 Second-Resolution Bonds Rated 'AA+' Sep 11

Standard & Poors, September 2011

Abstract
DALLAS (Standard & Poor's) Sept. 9, 2011--Standard & Poor's Ratings Services said it assigned its 'AA+' long-term rating and stable outlook to New York City Municipal Water Finance Authority's (NYCMWFA) fiscal 2012 series AA second-general resolution water and sewer system revenue 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 stable outlook reflects our expectation that the system's financial profile will remain commensurate with the rating," said Standard & Poor's credit analyst Theodore Chapman. The difference in the ratings between the first- and second-resolution debt reflects lien priority and the active use of both liens. The long-term ratings reflect our opinion of...

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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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- New York City Mun Wtr Fin Auth

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