S&P Global Ratings has assigned its 'AAA' rating to Plano, Texas' series 2024 municipal drainage utility system revenue 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. A first-lien pledge on gross revenue of the municipal drainage utility system secures the revenue bonds. Bond provisions are considered credit neutral. The $14.6 million series 2024 bonds will fund significant capital improvements in the city. There will be about $66 million in debt outstanding after the issuance. The rating reflects our opinion of the drainage system's extremely affordable rates, manageable capital program, and overall very strong financial metrics. It is enhanced by management's ability to
