Standard&Poor's Ratings Services has assigned its 'AA' rating, with a stable outlook, to San Antonio, Texas' series 2010A and 2010B water system revenue bonds. At the same time, we have assigned our 'AA-' rating to San Antonio's series 2010A water system junior-lien revenue and refunding bonds, secured by a junior-lien pledge of net revenues of the water system. In addition, Standard&Poor's affirmed its ratings on the system's senior- and junior-lien bonds outstanding. The junior-lien bonds are expected to be sold to the Texas Water Development Board. The ratings reflect our assessment of: The broad, diversified, and growing service area that encompasses most of the city of San Antonio ('AAA' GO rating), Management's ability to maintain good
