DALLAS (Standard&Poor's) May 18, 2005--Standard&Poor's Ratings Services raised its underlying rating (SPUR) on Plano, Texas' municipal drainage utility system revenue debt outstanding one notch to 'AA' from 'AA-' based on the limited nature of the system's future capital needs, coupled with improving debt service coverage. The outlook remains stable. The rating agency also assigned its 'AA' standard long-term rating, and stable outlook, to the city's $8.91 million series 2005 municipal drainage utility system revenue refunding and improvement bonds. Simultaneously, Standard&Poor's assigned its 'AAA' rating, and stable outlook, to the city's $75.045 million series 2005 general obligation refunding and improvement bonds. The ratings on the revenue debt are also based primarily on the strength of
