...+ S&P Global Ratings revised the outlook to stable from negative and affirmed its '##-' senior-lien long-term rating and underlying rating (SPUR) and 'A+' junior-lien long-term rating on San Antonio's electric and gas systems bonds outstanding. + At the same time, we assigned our '##-' long-term rating with a stable outlook to San Antonio's electric and gas systems' estimated $446.5 million series 2024A, $409.3 million series 2024B, and $194.5 million series 2024C revenue refunding bonds. + Finally, we affirmed our 'A-1' short-term rating on San Antonio's electric and gas systems' revenue debt outstanding. + The outlook revision reflects our view of the electric and gas systems' improved risk management given recent large generation additions to its portfolio, including 1,710 megawatts (MW) of baseload gas-fired generation, and other steps taken to reduce exposure to often high Electric Reliability Council of Texas (ERCOT) market prices, especially during peak demand events resulting from...
