The rating on Plano, Texas' bonds reflects the service area's historical growth and economic diversity, a stable revenue stream, low drainage rates, and strong coverage of annual debt service requirements. Currently, the rating is limited by a quickly increasing debt burden. However, if strong debt service coverage can be maintained either through system growth or additional rate increases as additional debt is issued, a higher rating will be warranted. Plano (`AA' rated G.O. debt), is a suburb of Dallas, with an estimated population of 176,400. The city continues to experience strong population growth, which averaged about 6% per year since 1990. Similarly, assessed valuations have demonstrated strong growth. The drainage utility was established in 1992 in response to EPA storm
