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Fitch said GLWA has about approximately $1.6 billion senior lien water supply system revenue bonds outstanding, about $708.1 million of second lien water supply system revenue bonds, $1.79 billion senior lien sewage disposal system revenue bonds and $736.4 million second lien sewage disposal system revenue bonds. According to Moody's and Fitch, the issuer expects to refund about $60 million of outstanding senior lien revenue water bonds, and $90 million of senior lien sewage disposal system revenue bonds and $12 million of second lien sewage system revenue bonds. Michigan-based Great Lakes Water Authority is set to return to market with upward of $400 million in senior and second lien water supply and sewer disposal revenue and refunding bonds following two ratings upgrades and a step toward ending a years-long legal dispute with a city just north of Detroit. [Extracted from the article]

The deal has new-money and refunding components and is expected to hit the market in a negotiated sale the week of Nov. 13. [ABSTRACT FROM AUTHOR]