S&P raises Chicago senior-lien wastewater bond rating

Fri Aug 29, 2014 11:14am EDT

Aug 29 (Reuters) - Standard & Poor's raised its rating on Chicago's senior-lien wastewater debt outstanding to 'AA' from 'AA-minus', citing the city's efforts to improve its financial position.

The city is "addressing its capital needs in a timely fashion and still maintains rates that will not stress its service base," Standard & Poor's credit analyst Corey Friedman said. (bit.ly/VSNQuG)

The agency also raised its rating on Chicago's second-lien wastewater revenue-secured debt outstanding to 'AA-minus' from 'A-plus'.

Standard & Poor's has assigned an 'AA-minus' long-term rating and stable outlook to the city's series 2014 second-lien wastewater transmission revenue project bonds. (Reporting By Sudarshan Varadhan; Editing by Simon Jennings)

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