Stonegate Village Metropolitan District, CO Water Bond Rating Placed On CreditWatch Negative On Lack Of Information

Stocks and Financial Services Press Releases Tuesday April 24, 2018 09:27
SAN FRANCISCO--24 Apr--S&P Global Ratings

SAN FRANCISCO (S&P Global Ratings) April 23, 2018--S&P Global Ratings has placed its 'A' underlying rating (SPUR) on Stonegate Village Metropolitan District, Colo.'s water enterprise revenue bonds on CreditWatch with negative implications. "This action follows our attempts to obtain timely information of satisfactory quality to maintain our rating on the securities, in accordance with our applicable criteria and policies," said S&P Global Ratings credit analyst Tim Tung.

"We have been unable to obtain clarification from management on various data points and policies that support our criteria methodology to assign ratings based on the district's net revenue pledge of its water system." If the district does not provide the requested information within 15 days after the placement of the rating on CreditWatch, we will likely withdraw the rating. However, if the district provides the requested information and if S&P Global Ratings considers it sufficient, we will conduct a review and take a rating action within 90 days of the CreditWatch placement. Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com.

All ratings affected by this rating action can be found on the S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.

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