KBRA Assigns AA Rating with a Stable Outlook to the City of Chicago Second Lien Water Revenue Refunding Bonds, Series 2017-2

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) has assigned a long-term rating of AA
and Stable Outlook to the City of Chicago Second Lien Water Revenue
Refunding Bonds, Series 2017-2. In addition, KBRA has affirmed the
long-term rating of AA with a Stable Outlook on the City’s outstanding
Second Lien Water Revenue Bonds. KBRA’s long-term ratings do not apply
to bonds backed by a letter of credit or liquidity facility, unless
otherwise noted.

This rating action is based on KBRA’s U.S.
Municipal Water and Sewer Revenue Bond Methodology. KBRA’s
rating evaluation focuses on the following key rating determinants:

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

To access the full 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
recognized by the National Association of Insurance Commissioners as a
Credit Rating Provider and 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:
Kroll Bond Rating
Agency
Andrew Clarke, 646-731-2380
Senior Director
[email protected]
or
Alice
Cheng, 646-731-2403
Associate Director
[email protected]