Nov 20 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
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.