Summary: Lewisville, Texas; Water/Sewer

S&P Global Ratings assigned its 'AAA' long-term rating to Lewisville, Texas' series 2022 waterworks and sewer system revenue refunding and improvement bonds. At the same time, we affirmed our 'AAA' rating on the city's revenue debt outstanding. The outlook is stable. Net revenues of the water and sewer system secure the approximately $13.8 million series 2022 bonds. After the issuance, Lewisville will have about $70 million in parity revenue debt outstanding. Officials intend to use series 2022 bond proceeds to construct several improvements to the utility system and refinance a portion of the city's outstanding bonds. As with previous issues, bonds provisions are credit neutral. Due to Lewisville's limited exposure to federal revenues, we believe the 'AAA' rating on the

...S&P Global Ratings assigned its '###' long-term rating to Lewisville, Texas' series 2022 waterworks and sewer system revenue refunding and improvement bonds. At the same time, we affirmed our '###' rating on the city's revenue debt outstanding. The outlook is stable. Net revenues of the water and sewer system secure the approximately $13.8 million series 2022 bonds. After the issuance, Lewisville will have about $70 million in parity revenue debt outstanding. Officials intend to use series 2022 bond proceeds to construct several improvements to the utility system and refinance a portion of the city's outstanding bonds. As with previous issues, bonds provisions are credit neutral. Due to Lewisville's limited exposure to federal revenues, we believe the '###' rating on the city's combined enterprise system revenue bonds, which exceeds the U.S. sovereign credit rating, is warranted per our criteria, titled "Ratings Above The Sovereign--Corporate And Government Ratings: Methodology And Assumptions"...

Summary