The rating on Trinity River Authority, Texas' bonds, issued for Grand Prairie, reflects Grand Prairie's water and wastewater revenue rating, including: A growing customer base, Improved financial performance with competitive rates, Ample contracted water and sewer treatment capacity, and Manageable capital needs. Since rate increases were implemented in 1995 and 1996 to address eroding debt service coverage levels, the water and sewer enterprise fund has rebounded, with coverage levels in a very sound range, estimated at 1.79 times (x) for the just completed fiscal 1998. Cash reserves have also grown to $6.2 million and are estimated at 87 days' expenditures. In addition, the city has now fully funded a $2 million rate stabilization fund that is designed to smooth or
