KBRA Assigns AA Rating with a Stable Outlook to the City of Chicago Second Lien Water Revenue Refunding Bonds, Series 2017-2

NEW YORK--()--Kroll Bond Rating Agency (KBRA) has assigned a long-term rating of AA and Stable Outlook to the City of Chicago Second Lien Water Revenue Refunding Bonds, Series 2017-2. In addition, KBRA has affirmed the long-term rating of AA with a Stable Outlook on the City’s outstanding Second Lien Water Revenue Bonds. KBRA’s long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted.

This rating action is based on KBRA’s U.S. Municipal Water and Sewer Revenue Bond Methodology. KBRA’s rating evaluation focuses on the following key rating determinants:

  • Management
  • Legal Mechanics and Security Provisions
  • Service Area & Economy
  • System Characteristics
  • Financial Metrics
  • Debt Structure & Capital Plan Requirements

To access the full report click here.

CONNECT WITH KBRA

Twitter
LinkedIn
Download the iOS App
YouTube

About KBRA and KBRA Europe

KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

Contacts

Analytical:
Kroll Bond Rating Agency
Andrew Clarke, 646-731-2380
Senior Director
aclarke@kbra.com
or
Alice Cheng, 646-731-2403
Associate Director
acheng@kbra.com

Contacts

Analytical:
Kroll Bond Rating Agency
Andrew Clarke, 646-731-2380
Senior Director
aclarke@kbra.com
or
Alice Cheng, 646-731-2403
Associate Director
acheng@kbra.com