SAN FRANCISCO — Fitch Ratings yesterday cut its outlook on the Truckee Meadows, Nev., Water Authority’s A-rated water revenue bonds to negative from stable ahead of a $31.4 million bond sale next week.

The action affects the new tax-exempt debt, which is expected to sell competitively on Jan. 28, as well as $463.2 million of parity debt. The bonds are rated AA-minus by Standard & Poor’s and A3 by Moody’s Investors Service. Both agencies reaffirmed the ratings with stable outlooks ahead of the deal.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.