St. Charles County Public Water Supply District No. 2, MO COP Rating Raised To #AA+# On Application Of Our Criteria

Stocks and Financial Services Press Releases Thursday June 14, 2018 09:03
CENTENNIAL--14 Jun--S&P Global Ratings

CENTENNIAL (S&P Global Ratings) June 13, 2018--S&P Global Ratings raised its long-term rating to 'AA+' from 'AA' on St. Charles County Public Water Supply District No. 2, Mo.'s outstanding certificates of participation (COPs). At the same time, S&P Global Ratings assigned its 'AA+' long-term rating to the district's series 2018 COPs. The outlook is stable.

"The rating reflects our view of an extremely strong enterprise risk profile and a very strong financial risk profile," said S&P Global Ratings credit analyst John Schulz. "The raised rating further reflects the application of our 'Issue Credit Ratings Linked to U.S. Public Finance Obligors' Creditworthiness' criteria, published Jan. 22, 2018, on RatingsDirect," Mr. Schulz added.

The series 2018 certificates will fund the purchase of the water distribution and sewer collection systems from the city of Wright City, Mo., and fund other system capital improvements to the district's waterworks and sewerage systems.

The district serves an estimated population of approximately 140,000, is located about 30 miles west of downtown St. Louis, and encompasses approximately 400 square miles, including portions of St. Charles County and eastern Warren County. In addition, the district serves the communities of Lake St. Louis, Dardenne Prairie, Weldon Spring, Innsbrook, Dutzow, Augusta, New Melle, and Defiance along the Missouri River and parts of the city of O'Fallon.

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 S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


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