Fitch Affirms Existing SWBNO Bond Rating of BBB+

Fitch Ratings has assigned a 'BBB+' rating to thefollowing bonds issued by the city of New Orleans, on behalf of the New Orleans Sewerage and Water Board:

  • Approximately $189 million water revenue refunding bonds (taxable), series 2021;
  • Approximately $185 million sewerage service revenue refunding bonds (taxable), series2021.

The bonds are scheduled to sell via negotiation on or around Feb. 3, 2021. The water bond proceeds will refund all or a portion of the outstanding water revenue and refunding bonds, series 2014 and the water revenue bonds, series 2015, fund reserves, and pay costs of issuance. The sewerage bond proceeds will refund all or a portion of the outstanding sewerage service revenue and refunding bonds, series 2014 and the sewerage servicerevenue bonds, series 2015, fund reserves, and pay costs of issuance.

Click the attachment below for the full press release. 

 

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