S&P Global Ratings assigned its 'AA+' long-term rating to the Trinity River Authority (TRA), Texas' series 2017 revenue improvement bonds, issued for the authority's Tarrant County water project. At the same time, S&P Global Ratings affirmed its 'AA+' rating on the authority's outstanding debt, also issued for Tarrant County's water project. The outlook on all the ratings is stable. The ratings reflect our opinion of the underlying credit quality of the utility systems of the cities participating in Tarrant County's water project: Colleyville, Bedford, Euless, as well as portions of Grapevine and North Richland Hills. We believe the utility systems collectively exhibit: Strong total financial capacity with what we view as an extremely strong ability to cover all on- and
