DALLAS (S&P Global Ratings) June 30, 2022--S&P Global Ratings revised its outlook to stable from negative and affirmed its 'BBB+' long-term rating on Irving, Texas' series 2019 and taxable series 2014A hotel occupancy tax (HOT) revenue bonds. "The outlook revision reflects our expectation that maximum annual debt service coverage will improve to above 1x in fiscal 2022," said S&P Global Ratings credit analyst Karolina Norris, "and that maximum annual debt service will remain stable over the outlook horizon given year-to-date pledged revenue collection trends that are showing strong recovery and will likely be at least at pre-pandemic levels." The bonds are payable from a senior lien on revenue derived from a 2% citywide HOT (also known as the venue hotel
