News

KBRA Assigns AA Rating and Stable Outlook to Narragansett Bay Commission Combined Sewer Overflow (CSO) Phase III Facilities WIFIA Loan

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns a long-term rating of AA with a Stable Outlook to the Narragansett Bay Commission Combined Sewer Overflow (CSO) Phase III Facilities WIFIA Loan.

Issuer: Narragansett Bay Commission

Assigned

Rating

Outlook

Combined Sewer Overflow (CSO)

Phase III Facilities WIFIA Loan

AA

Stable

The rating action is based on KBRA’s U.S. Municipal Water and Sewer Revenue Bond Rating Methodology and an assessment of the following six rating determinants identified therein:

  • Management
  • Legal Mechanics & Security Provisions
  • Service Area & Economy
  • System Characteristics
  • Financial metrics
  • Debt Structure & Capital Plan Requirements

To read the report, click here.

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About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

Contacts

Analytical Contacts:

Paul Kwiatkoski, Managing Director

(646) 731-2387

pkwiatkoski@kbra.com

Jack Morrison, Associate Director

(646) 731-2410

jmorrison@kbra.com

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