S&P revises Rio Rancho, New Mexico, rating outlook to negative
Nov 20 (Reuters) - Standard & Poor's Ratings Service said on Tuesday it had revised Rio Rancho, New Mexico's water and wastewater system revenue bond rating outlook to negative from stable, citing weaker credit metrics.
The rating agency said, "We could take a negative rating action if debt service coverage does not perform more consistently at levels that we consider strong, or if the system's liquidity position remains below or within our forecast range."
S&P, which affirmed its long-term AA-minus rating on the debt, also said in a written statement that its outlook could be returned to stable if actual performance exceeds the forecast, or the system's liquidity position returns to a strong level.
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