S&P Global Ratings Upgrades Millbrae Public Financing Authority

Millbrae CA

04 February, 2021

2:12 PM

Description

Press release from the City of Millbrae: February 2, 2021 On February 1, 2021, S&P Global Ratings upgraded the Millbrae Public Financing Authority certificates of participation (COPs) and wastewater revenue bonds from AA- to AA. As indicated in their rationale, the ratings reflect their view of the wastewater system's strong enterprise and financial risk profiles. What this means is that a stronger rating likely leads to lower borrowing costs when going out to bond, which, in turn, reduce costs to ratepayers. This press release was produced by the City of Millbrae. The views expressed here are the author's own.