S&P Global Ratings assigned its 'AA+' rating to Irving, Texas' $26.57 million series 2024 waterworks and sewer system new-lien revenue bonds. At the same time, S&P Global Ratings affirmed its 'AA+' rating on the city's utility bonds outstanding. The outlook is stable. Net waterworks and sewer system revenues secure the bonds, which are on parity with existing new-lien debt. We view bond provisions as credit neutral. Bond proceeds will fund various projects in line with the city's capital improvement plan. With the series 2024 bonds, the city will have approximately $212 million in total debt outstanding. The rating reflects our view of management's forward-looking planning, including regularly adjusted rate model and comprehensive asset management planning, which we believe will continue
