DALLAS (Standard&Poor's) April 24, 2007--Standard&Poor's Ratings Services raised its underlying rating (SPUR) on Plano, Texas' drainage utility system revenue debt one notch to 'AA+' from 'AA' based on the utility's continued strong financial performance and minimal additional capital needs. The outlook remains stable. The rating service also assigned its 'AA+' standard long-term rating, and stable outlook, to the city's $2 million series 2007 municipal drainage utility system revenue refunding and improvement bonds. The ratings reflect, in part, the strength of the city's water and sewer system ('AA' SPUR). The water and sewer system's credit strengths include its service area, which has experienced rapid historical growth and economic diversity; above-average wealth and income indicators; stable operations with
