Standard&Poor's Ratings Services affirmed its 'A-1+' rating on Trinity River Authority (TRA), Texas' series A extendible commercial paper program, which the authority is upsizing to $350 million. Because it is an extendible maturity commercial paper program with no revolving credit agreement or other liquidity support, the rating is based on the 'AAA' long-term rating on TRA's Central Regional Wastewater Treatment System (CRW). We also affirmed the 'AAA' rating. We have applied the primary criteria to determine the entity's general creditworthiness (ICR) and have applied this rating to the senior-lien issues. The outlook on the long-term rating is stable. We understand that TRA's governing board will approve a resolution each fiscal year authorizing TRA staff to issue long-term debt--likely
