The 'A' rating on Plano, Texas' bonds reflects the service area's historical growth and economic diversity, which supports a stable revenue stream. The rating is limited by an increasing debt burden and the absence of a specific plan for rate increases to meet the capital program's financing requirements. Plano (G.O. 'AA'), a Dallas suburb, continues to experience strong population growth that averaged about 6% per year since 1990. Similarly, assessed valuation growth equaled or exceeded 5.5% since 1994. The city also benefits from the presence of the following corporate headquarters: Electronic Data Systems Inc., Frito-Lay Inc. and J.C. Penney Co. Inc. The drainage utility was established in 1992 in response to EPA storm water drainage rules. Fees are based on
