S&P Global Ratings assigned its 'AAA' rating to the Trinity River Authority (TRA), Texas' Mountain Creek regional wastewater system's 2020 revenue improvement and refunding bonds. The rating reflects the credit quality of the system's customer cities, specifically Grand Prairie, which we view as the strong link among the participants in the TRA system despite its position as the smallest one. We have also affirmed our 'AAA' rating on the system's parity debt. Following this issuance, the Mountain Creek system will have about $50.2 million in outstanding debt. A reserve fund in the amount of average annual debt service, funded from bond proceeds, provides additional liquidity. Trinity River Authority is a state agency tasked with, among other functions, water flows, water
