This criteria report details Fitch Ratings’ methodology for assigning Issuer Default Ratings (IDRs), Standalone Credit Profiles (SCPs),and issue-and obligation-specific ratings to U.S. municipal water and sewer (including wastewater and stormwater) utilities, whether operating as a stand-alone legal entity or an enterprise of a local government. This rating methodology also applies to certain municipally owned combined utilities, for which water and sewer revenue accounts for, or is expected to account for, the largest share of total revenue on an ongoing basis.
April 3, 2020