Summary: San Miguel Electric Cooperative Inc., Texas Atascosa County Industrial Development Corp.; Rural Electric Coop

S&P Global Ratings has assigned its 'A' rating to the Atascosa County Industrial Development Corp. (IDC), Texas' approximately $65 million pollution control refunding revenue bonds, series 2020, issued on behalf of the San Miguel Electric Cooperative (SMEC). At the same time, we have affirmed our 'A' issuer credit rating (ICR) on SMEC, and our dual 'A/A-1' rating on the IDC's series 2008 variable-rate pollution control refunding revenue bonds, also issued for SMEC. The outlook is stable. The Jourdanton-based generation and transmission (G&T) cooperative had $273 million in debt outstanding as of Dec. 31, 2019. San Miguel operates a 391-megawatt (MW) mine-mouth lignite coal plant, selling 100% of its output under a take-or-pay wholesale power contract (through 2037) with South Texas

...S&P Global Ratings has assigned its 'A' rating to the Atascosa County Industrial Development Corp. (IDC), Texas' approximately $65 million pollution control refunding revenue bonds, series 2020, issued on behalf of the San Miguel Electric Cooperative (SMEC). At the same time, we have affirmed our 'A' issuer credit rating (ICR) on SMEC, and our dual 'A/A-1' rating on the IDC's series 2008 variable-rate pollution control refunding revenue bonds, also issued for SMEC. The outlook is stable. The Jourdanton-based generation and transmission (G&T) cooperative had $273 million in debt outstanding as of Dec. 31, 2019....

Summary