...DALLAS (Standard & Poor's) Dec. 3, 2014--Standard & Poor's Ratings Services said it assigned its '##-' rating to San Antonio, Texas' series 2015A and 2015B electric and gas systems variable-rate junior-lien revenue refunding bonds. At the same time, we affirmed our '##' rating on the city's senior-lien parity debt, our '##-' rating on the systems' junior-lien bonds outstanding, and our 'A-1+' commercial paper rating on the utility. The ratings reflect our opinion of the general creditworthiness of the systems, doing business as City Public Service of San Antonio, or CPS Energy (CPS). "The stable outlook on the long-term ratings reflects our expectation that city council will continue to support management's financial policies, which include maintaining strong financial metrics," said Standard & Poor's credit analyst Theodore Chapman. Bond proceeds will be used to refund for savings the utility's series 2003 junior-lien variable-rate bonds. As of Oct. 31, 2014, the electric and gas utility...
