The New York City Municipal Water Finance Authority intends to sell roughly $200 million of second resolution, fixed-rate tax-exempt new money bonds through competition on June 25, subject to market conditions. New York Water also intends to price $400 million of tax-exempt new money variable-rate demand bonds on or about July 10, according to a spokesman for City Comptroller Scott Stringer.
In late March, New York Water upsized a sale by $68 million, to $548 million.
Fitch Ratings and Standard & Poor's rates the bonds AA-plus. Moody's Investors Service assigns its Aa2 rating.
The system provides more than 1 billion gallons per day of drinking water to more than 8 million city residents and another 1 million users in the four upstate counties where the water supply system is located.
