Summary: Atascosa County Industrial Development Corp., Texas San Miguel Electric Cooperative Inc.; Rural Electric Coop

S&P Global Ratings affirmed its 'A' issuer credit rating (ICR) on San Miguel Electric Cooperative Inc. (San Miguel), Texas. We also affirmed our dual 'A/A-1' rating on the Atascosa County Industrial Development Corp.'s (IDC) series 2008 variable-rate pollution control refunding revenue bonds, issued for San Miguel. The outlook is stable. The rating action reflects our view of an identical action on the 'A' ICR for South Texas Electric Cooperative (STEC). For more information, see our report, published Dec. 20, 2018, on RatingsDirect. The long-term rating reflects our view of San Miguel's general creditworthiness as the ultimate obligor. The Jourdanton-based generation and transmission (G&T) cooperative had $187 million in debt outstanding as of Dec. 31, 2017. The ICR reflects our view

...S&P Global Ratings affirmed its 'A' issuer credit rating (ICR) on San Miguel Electric Cooperative Inc. (San Miguel), Texas. We also affirmed our dual 'A/A-1' rating on the Atascosa County Industrial Development Corp.'s (IDC) series 2008 variable-rate pollution control refunding revenue bonds, issued for San Miguel. The outlook is stable. The rating action reflects our view of an identical action on the 'A' ICR for South Texas Electric Cooperative (STEC). For more information, see our report, published Dec. 20, 2018, on RatingsDirect. The long-term rating reflects our view of San Miguel's general creditworthiness as the ultimate obligor. The Jourdanton-based generation and transmission (G&T) cooperative had $187 million in debt outstanding as of Dec. 31, 2017. The ICR reflects our view of San Miguel's: + Take-or-pay wholesale power contract through 2037 with STEC (A/Stable ICR) for 100% of San Miguel's single coal plant's output (STEC is obligated to make capacity payments to San Miguel...

Summary