PROVIDENCE – Fitch Ratings has assigned an “AAA” rating and stable outlook to $127.9 million in bonds issued by the Rhode Island Infrastructure Bank, according to a news release.
The bonds, which come through the bank’s state revolving fund, will be used to offer upfront, advanced payments to borrowers on an existing set of bonds for clean-water and drinking-water projects. The bank through its Drinking Water and Clean Water State Revolving Fund offers below-market interest rate loans to municipalities and quasi-public agencies to pay for projects that address water infrastructure and pollution.
The 2021 series A bonds will be priced by negotiation the week of Aug. 16, according to the release.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
