Summary: Plano, Texas; Water/Sewer

S&P Global Ratings has assigned its 'AAA' rating to Plano, Texas' series 2021 municipal drainage utility system revenue refunding and improvement bonds. At the same time, S&P Global Ratings affirmed its 'AAA' rating on the city's municipal drainage utility system revenue bonds outstanding. The outlook is stable, with limited downside risk at this time. Officials established the drainage utility in 1992 in response to Environmental Protection Agency stormwater drainage rules. Fees are assessed based on total impervious surface area and are collected on the local utility bill for water and wastewater service to about 80,000 accounts. Rates were increased in January 2021 and range from $3.92 to $7.08 per month. At this time, management does not have any plans for

...S&P Global Ratings has assigned its '###' rating to Plano, Texas' series 2021 municipal drainage utility system revenue refunding and improvement bonds. At the same time, S&P Global Ratings affirmed its '###' rating on the city's municipal drainage utility system revenue bonds outstanding. The outlook is stable, with limited downside risk at this time. Officials established the drainage utility in 1992 in response to Environmental Protection Agency stormwater drainage rules. Fees are assessed based on total impervious surface area and are collected on the local utility bill for water and wastewater service to about 80,000 accounts. Rates were increased in January 2021 and range from $3.92 to $7.08 per month. At this time, management does not have any plans for additional rate increases. A majority of the revenues are derived from the R-2 classification of residential rates of $5.27 per month. A first-lien pledge on gross revenues of the municipal drainage utility system secures the revenue...

Summary