Standard&Poor's Ratings Services assigned its 'AA-' rating and stable outlook to Trinity River Authority (TRA), Texas' series 2013 revenue bonds, issued for the Red Oak Creek system, a regional wastewater treatment system, and affirmed its 'AA-' rating, with a stable outlook, on the authority's Red Oak Creek system's parity debt. The rating reflects our assessment of the member cities' respective utility systems' credit strengths and financial stability, as well as, what we consider, their sound service area economies and utility system operations. In our opinion, these cities' water and sewer systems collectively exhibit: Essentiality of wastewater treatment services provided by the TRA; Revenue streams that provide adequate debt service coverage (DSC); Competitive treatment rates; and Sufficient treatment capacity,
