S&P Global Ratings affirmed its 'AA' senior-lien rating and its 'AA-' junior-lien rating on San Antonio, Texas' electric and gas systems' senior-lien parity debt and junior-lien bonds outstanding. The ratings reflect our opinion of the general creditworthiness of the systems (d/b/a City Public Service of San Antonio, or CPS Energy [CPS]). The outlook on all the ratings is stable. We applied our primary criteria to determine CPS Energy's general creditworthiness (issuer credit rating [ICR]) and assigned our rating to the senior-lien issues, as well as maintained a one-notch rating distinction on the junior-lien debt based on the application of our criteria, "Assigning Issue Credit Ratings of Operating Entities" (published May 20, 2015, on RatingsDirect). As of October 2016, CPS Energy
