San Antonio Electric And Gas Systems Bond Outlook Revised To Stable From Negative; $1.05 Billion New Bonds Rated 'AA-'

AUSTIN (S&P Global Ratings) May 13, 2024--S&P Global Ratings revised the outlook to stable from negative and affirmed its 'AA-' 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 'AA-' 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 City Public Service Board of San Antonio manages and operates the city's electric and gas systems. "The outlook revision reflects our view of

...May 13, 2024 AUSTIN (S&P Global Ratings) May 13, 2024--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 City Public Service Board of San Antonio manages and operates the city's electric and gas systems. "The outlook revision reflects our view of the electric and gas systems' improved risk management given recent large generation additions to its portfolio and other steps taken to reduce exposure to often high Electric Reliability Council...

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