Standard&Poor's Ratings Services assigned its 'A' standard long-term rating, and stable outlook, to Trinity River Authority, Texas' series 2006 revenue bonds, issued for Red Oak Creek System, a regional wastewater treatment system, and affirmed its 'A' Standard&Poor's underlying rating (SPUR), with a stable outlook, on the authority's preexisting revenue debt based on the creditworthiness and financial stability of the member cities' respective utility systems and their sound service area economies and utility system operations. In general, these cities' water and sewer systems collectively exhibit: Revenue streams that provide adequate debt service coverage (DSC), Low treatment rates, and Sufficient treatment capacity. A first-lien net revenue pledge derived from payments by contract participants to the authority secures the
