?? ICYMI Fitch Ratings: Fitch Rates Metropolitan Water Reclamation District of Greater Chicago, IL's GOs 'AAA'; Outlook Stable Fitch Ratings has assigned 'AAA' ratings to the following Metropolitan Water Reclamation District of Greater Chicago, IL (the district) obligations: ? Approximately $300 million general obligation capital improvement bonds (green bonds), 2024 series ? Approximately $25 million general obligation unlimited tax, 2024 series B (green bonds); ? Approximately $48 million limited tax refunding bonds, 2024 series C; ? Approximately $90 million unlimited tax refunding bonds, 2024 series D; ? Approximately $37 million general obligation unlimited tax refunding bonds (alternate revenue source), 2024 series E. Bonds are anticipated to price the week of Dec. 9 through negotiation. Proceeds will be used to pay for certain projects included in the capital improvement plan (CIP), refund certain maturities of outstanding general obligations bonds, refund certain general obligation bonds that have been accepted by the district for tender, pay capitalized interest for selected series and pay costs of issuance. Fitch has also affirmed the 'AAA' rating on the following obligations of the district: ? Approximately $614.2 million unlimited tax bonds (prerefunding), including approximately $89.5 million alternate revenue bonds; ? Approximately $1.032 billion limited tax bonds (prerefunding); ? Issuer Default Rating (IDR). The Rating Outlook is Stable. The 'AAA' bond ratings and IDR reflect the district's 'Very Strong' financial profile in the context of its 'Very Strong' revenue defensibility and 'Very Strong' operating risk profile, both assessed at 'aa'. The district's leverage, measured as net adjusted debt to adjusted funds available for debt service (FADS), was very low at 7.6x in 2023 (FYE Dec. 31). #MWRD #CookCounty #FitchRatings #WastewaterTreatment #StormwaterManagement ?? Read more: https://lnkd.in/dH56PCQs The MWRD, responsible for treating wastewater for Chicago and 128 surrounding suburban municipalities, and managing stormwater for all of Cook County, is governed by a nine–member Board of Commissioners. As a policy-making entity, the Board of Commissioners is responsible for providing financial oversight and establishing policies and procedures which meet the MWRD’s objective of protecting the water environment for the citizens of Cook County. MWRD Board of Commissioners: https://lnkd.in/dJgJVTk6
