SAN FRANCISCO (S&P Global Ratings) June 15, 2021--S&P Global Ratings assigned its 'AA' rating to San Antonio, Texas' (San Antonio Water System, or SAWS) anticipated $257.7 million series 2021A junior lien revenue and refunding bonds. At the same time, S&P Global Ratings affirmed its: 'AA+' rating on the system's outstanding senior-lien revenue bonds, 'AA' rating on the system's parity junior-lien revenue bonds, and its 'A-1+' rating on the system's commercial paper (CP) program. The outlook, where applicable, is stable. "The rating reflects our assessment of the system's recent and projected all-in coverage, its healthy unrestricted cash and investments, and overall economic considerations of the customer base," said S&P Global Ratings credit analyst Chloe Weil. "Key credit drivers center on SAWS's settlement
