S&P Global Ratings assigned its 'AAA' long-term rating to Lewisville, Texas' series 2020 waterworks and sewer system revenue bonds. At the same time, we affirmed our 'AAA' rating on the city's outstanding revenue debt. The outlook is stable. Net revenues of the water and sewer system secure the approximately $12.365 million series 2020 bonds. After the issuance, Lewisville will have just under $67.5 million in outstanding revenue debt. Officials intend to use series 2020 bond proceeds to construct several improvements to the system, including capacity expansion in the wastewater treatment plant and line improvements. They indicate they have not entered into any direct-purchase bank debt. We consider bond provisions credit neutral. In our opinion, the rating reflects extremely strong enterprise
