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S&P rates New York City Water bonds AA+
Standard & Poor's said it assigned an AA+ rating and stable outlook to New York City Water Finance Authority's $150 million of series 2008C water and sewer system first-resolution revenue bonds.
S&P also said it affirmed the AA+ long-term rating and AA+ underlying rating with stable outlook on the authority's existing first-resolution bonds and the AA long-term rating with stable outlook on the authority's existing second-resolution bonds.
The authority has roughly $10.8 billion of first-lien debt and $7.5 billion of second-resolution bonds.
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