Standard&Poor's Ratings Services affirmed its 'AA' rating, and stable outlook, on Starbright Industrial Development Corp., Texas' contract revenue debt, supported by San Antonio, Texas ('AA+' GO debt rating). San Antonio's portion of revenues received from City Public Service (CPS) ('AA') secures the bonds. The revenue transfer from CPS to the city is subject to the availability of excess CPS funds; but according to its bond ordinance, the utility is required to transfer funds as long it has debt outstanding. The transfer of funds has occurred since 1963, and the city relies on these funds for operations. The rating reflects: The city's pledge of revenues it receives from CPS, which have historically been made in the maximum legal amount
