Standard&Poor's Ratings Services has assigned its 'AA' rating to San Antonio, Texas' series 2012A water system revenue and refunding bonds. At the same time, Standard&Poor's assigned its 'AA-' rating to the series 2012 junior-lien water system revenue bonds that will be sold to the Texas Water Development Board. Additionally, Standard&Poor's has affirmed its 'AA' senior-lien and 'AA-' junior-lien ratings on the system's outstanding bonds. The ratings reflect our assessment of: The broad and diversified service area that encompasses most of the city of San Antonio ('AAA' GO rating), Management's ability to maintain good coverage levels and strong liquidity, coupled with the development of a long-range capital and financial plan, and Competitive water and sewer
