Fitch Ratings – Austin – 08 Apr 2024: Fitch Ratings has placed the following rating related to the Milwaukee, WI water system (the system) Under Criteria Observation (UCO) in relation to the publication on April 2, 2024 of Fitch’s revised rating criteria titled ‘U.S. Public Finance Local Government Rating Criteria’:
— Water system revenue bonds, series 2016.
Fitch will review the rating designated as UCO as soon as practicable, but no later than six months from the date of the criteria release.
The rating designated as UCO represents a water and sewer system rating that has a likelihood of being upgraded or downgraded following the release of the revised U.S. Public Finance Local Government Rating Criteria (LGR criteria), but requires additional information and analysis to fully assess the effect of the criteria on the rating. While this rating may be affected by the criteria changes, not all ratings designated as UCO will necessarily change.