Summary: San Antonio, Texas; CP - S&P Global Ratings’ Credit Research

Summary: San Antonio, Texas; CP

Summary: San Antonio, Texas; CP - S&P Global Ratings’ Credit Research
Summary: San Antonio, Texas; CP
Published Oct 13, 2023
4 pages (1331 words) — Published Oct 13, 2023
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings affirmed its 'A-1+' short-term rating on the water system of San Antonio, Texas' (San Antonio Water System, or SAWS) series A-1 and series B commercial paper (CP) notes to reflect the substitution of a new liquidity provider supporting series B. SAWS' CP program is used for interim financing. We base the CP ratings on our 'AA+' long-term ratings on SAWS' junior-lien bonds using our "Methodology For Linking Long-Term And Short-Term Ratings", published April 7, 2017, on RatingsDirect. SAWS currently maintains $101.8 million in debt outstanding on the senior lien and $3.02 billion on the junior lien (working lien) in addition to CP, which is subordinate to the junior lien. We consider both senior and junior lien bond

  
Brief Excerpt:

...+ S&P Global Ratings affirmed its 'A-1+' short-term rating on the water system of San Antonio, Texas' (San Antonio Water System, or SAWS) series A-1 and series B commercial paper (CP) notes to reflect the substitution of a new liquidity provider supporting series B. + SAWS' CP program is used for interim financing. + We base the CP ratings on our '##+' long-term ratings on SAWS' junior-lien bonds using our "Methodology For Linking Long-Term And Short-Term Ratings", published April 7, 2017, on RatingsDirect....

  
Report Type:

Summary

Ticker
2870Z
Issuer
San Antonio
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: San Antonio, Texas; CP" Oct 13, 2023. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-San-Antonio-Texas-CP-3070951>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: San Antonio, Texas; CP Oct 13, 2023. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-San-Antonio-Texas-CP-3070951>
  
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