S&P Global Ratings assigned its 'A-1' short-term rating to San Antonio, Texas' proposed $500 million electric and gas systems' new series commercial paper (CP) notes, consisting of $200 million new subseries A-1, $150 million new series B, and $150 million new series C (all subseries tax-exempt and taxable). The rating reflects our 'A+' junior-lien long-term rating on the City Public Service Board of San Antonio (CPS Energy). The notes are secured by a lien and pledge on proceeds from the sale of other notes or bonds issued to repay the notes, loans under the related revolving credit agreements, any amounts held in the note payment fund, and amounts remaining on deposit in the note construction fund after payment of all
