OREANDA-NEWS. S&P Global Ratings raised its rating to 'AA-' from 'A+' on Arapahoe County Water and Wastewater Authority (ACWWA), Colo.'s subordinate-lien bonds. At the same time, S&P Global Ratings assigned its 'AA-' long-term rating to the district's series 2016 water revenue refunding bonds. Finally, S&P Global Ratings affirmed its 'AA-' rating on ACWWA's existing senior-lien revenue bonds. The outlook is stable.

"The rating action on the subordinate-lien bonds reflect our view that after this partial refunding of the authority's senior lien debt, the subordinate-lien bonds are not at a material disadvantage based on the amount of principal remaining on the senior lien. " said S&P Global Ratings credit analyst John Schulz. "The rating further reflects our view of the authority's very strong enterprise and financial risk profiles," Mr. Schulz added.

The series 2016 bonds will be used to refund the district's outstanding series 2007 bonds for economic savings. ACWWA's service area encompasses about 5,000 acres in the southeastern Denver MSA, 10 miles south of downtown Denver. The area is in southern Arapahoe County.


The series 2016 bonds will be used to refund the district's outstanding series 2007 bonds for economic savings. ACWWA's service area encompasses about 5,000 acres in the southeastern Denver MSA, 10 miles south of downtown Denver. The area is in southern Arapahoe County.