The 'AA-' rating on Plano, Texas' municipal drainage utility system revenue bonds is based primarily on the strengths of the city's water and sewer system ('AA' Standard&Poor's underlying rating (SPUR)). Credit strengths include the system's: Service area's rapid historical growth and economic diversity, Above-average wealth and income indicators, Stable operations with sufficient capacity for growth, and Solid financial position. A first lien on gross revenues of Plano's municipal drainage utility system secures the bonds. In addition, the rating reflects 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 debt rating) is a suburb north of Dallas, Texas with an estimated population
