...S&P Global Ratings assigned its '##' long-term rating to San Antonio, Texas' electric and gas systems' new $241 million series 2018 revenue refunding bonds. At the same time, S&P Global Ratings affirmed its '##' senior-lien rating on the electric and gas systems' senior-lien parity debt and affirmed its '##-' junior-lien rating on the electric and gas systems' junior-lien bonds outstanding. The difference in the ratings reflects the lien status. The ratings reflect our opinion of the general creditworthiness of the systems (d/b/a City Public Service of San Antonio, or CPS Energy [CPS]). The outlook on all the ratings is stable. S&P Global Ratings also affirmed its 'A-1+' ratings on the system's series A ($150 million), B ($225 million), and C ($225 million) tax-exempt commercial paper (CP) programs. The CP ratings are based on the long-term rating on CPS Energy. Officials plan to use series 2018 revenue refunding bond proceeds to refund the systems' series 2009D for interest cost savings,...
