The 'AA-' rating on Plano, Texas' municipal drainage utility system revenue bonds is based on the strengths of the city's water and sewer system ('AA' Standard&Poor's underlying rating (SPUR)), which include: The service area's rapid historical growth and economic diversity, Above-average wealth and income indicators, Stable operations with sufficient capacity for growth, and A solid financial position. A first lien on gross revenues of Plano's municipal drainage utility system secures the bonds. The rating continues to reflect the drainage utility's: Stable revenue stream provided by low drainage rates, Adequate coverage of annual debt service requirements, and Limited future capital needs. Plano ('AAA' GO rating) is a suburb north of Dallas, Texas with an estimated population of 233,200. The
