S&P ups Buffalo Municipal Water underlying to A

Standard & Poor's said its underlying rating on Buffalo Municipal Water Finance Authority, N.Y.'s revenue bonds has been raised to A from BBB+, reflecting the system's improved financial profile, reflected in strong liquidity and stable debt service coverage, as a result of management's willingness to increase rates and the system's improved collections.

The agency said that the $62.02 million water system refunding bonds, series 2008A, are due May 1, 2035.

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