Summary: Trinity River Authority, Texas; Water/Sewer

S&P Global Ratings assigned its 'AA-' rating to Trinity River Authority (TRA), Texas' series 2019 revenue bonds, issued on behalf of Ten Mile Creek System, a regional wastewater treatment system. At the same time, we affirmed our 'AA-' rating on the authority's Ten Mile Creek system's outstanding parity debt. The outlook on all ratings is stable. The rating reflects our assessment of the water and sewer operations' credit strength for the system's five participating members: Cedar Hill, DeSoto, Duncanville, Ferris, and Lancaster. The rating also reflects our opinion of the five participants' water and sewer systems': Essentiality of wastewater treatment services provided by TRA, Average-to-above-average wealth and incomes for each participant, boosted by their participation in the Dallas-Fort Worth metropolitan

...S&P Global Ratings assigned its '##-' rating to Trinity River Authority (TRA), Texas' series 2019 revenue bonds, issued on behalf of Ten Mile Creek System, a regional wastewater treatment system. At the same time, we affirmed our '##-' rating on the authority's Ten Mile Creek system's outstanding parity debt. The outlook on all ratings is stable. The rating reflects our assessment of the water and sewer operations' credit strength for the system's five participating members: Cedar Hill, DeSoto, Duncanville, Ferris, and Lancaster. The rating also reflects our opinion of the five participants' water and sewer systems': + Essentiality of wastewater treatment services provided by TRA, + Average-to-above-average wealth and incomes for each participant, boosted by their participation in the Dallas-Fort Worth metropolitan statistical area (MSA); + Stable customer bases with predominantly residential service areas with little to no dependence on principal customers for revenue; + Strong debt service...

Summary