S&P

"The lowered ratings reflect our view of the system's ongoing operational management vulnerabilities that led to an EPA administrative order and alleged violations of the Federal Safe Drinking Water Act," said S&P's Jenny Poree.

"While everyone is watching the federal government experience a debt crisis and come close to defaulting on our nation's debt for the first time in history, Miami's credit rating was just recently upgraded," said Mayor Francis Suarez.

"When the rating agencies developed and rolled out their ESG scores, they said their ESG scores would not impact an issuer's credit rating. We are holding them to their word," said Ben Watkins, director of the state Division of Bond Finance.

"Dave has always worked hard, maintained the highest analytic integrity and role modeled independent thought," said Eden Perry, S&P head of U.S public finance. "He will be missed."

S&P raised Massachusetts' general obligation long-term credit rating to AA-plus from AA.

Inflation continues to wreak havoc on new construction rental projects that are still in the pipeline.

Improved disclosure is likely to have a cost, though analysts have long maintained the benefits outweight that.

Mild economic conditions resulted in slight changes to upgrades and downgrades in the third quarter, compared to the second quarter, S&P said.

"The diversity of people and places I get to work with in U.S. Public Finance, from small special purpose districts to large cities and states," makes work interesting for Cora Bruemmer. I feel like I'm always learning something new."

Increased use of third-party vendors by transportation issuers may be putting those entities at increased risk.