DALLAS (Standard&Poor's) Feb. 9, 2010--Standard&Poor's Ratings Services has raised the rating on San Antonio, Texas' municipal drainage utility system series 2003 and series 2005 revenue bonds to 'AA+' from 'AA-'. "The upgrade reflects the system's trends of strong coverage, high liquidity levels, and good collection rates," said Standard&Poor's credit analyst James Breeding. The rating also reflects our assessment of the system's broad, diversified, and growing service area; sound financial performance during the past several years; demonstrated willingness to adjust rates, although overall rates remain low; and economies of scale in the implementation of some functions of the drainage utility in conjunction with San Antonio Water System (SAWS) ('AA' senior-lien revenue bond rating). The stable
