Standard&Poor's Ratings Services assigned its 'AA' rating and stable outlook to Trinity River Authority (TRA), Texas' series 2012 state revolving fund loan, issued for Denton Creek Regional Wastewater Treatment System. In addition, Standard&Poor's affirmed its 'AA' rating, with a stable outlook, on the authority's parity debt. As of Nov. 30, 2011, the system had $133.6 million of debt outstanding. The ratings reflect our opinion of the general creditworthiness of the retail utility systems that participate in TRA's Denton Creek wastewater collection and treatment system. Contracts between the participant retail systems -- primarily municipally owned water and sewer systems mostly in Tarrant County -- and the authority require unconditional payments to the authority. Payments, which are considered
