S&P Global Ratings assigned its 'AAA' long-term rating to Lewisville , Texas' anticipated $38.6 million series 2025 waterworks and sewer system revenue refunding and improvement bonds. At the same time, we affirmed our 'AAA' rating on the city's revenue debt outstanding. The outlook is stable. Net revenue of the water and sewer system secures the series 2025 bonds. After this issuance, Lewisville will have about$136 million in parity revenue debt outstanding. Officials intend to use series 2025 bond proceeds to construct several improvements to the utility system, and to refund the system?s series 2012, 2015, and 2016 bonds. As with previous issues, bond provisions are credit neutral. The rating reflects our assessment of Lewisville's consistently strong and projected all-in debt
