S&P Global Ratings raised its underlying rating (SPUR) on Upper Trinity Regional Water District (UTRWD), Texas' northeast regional water reclamation system bonds to 'AA' from 'AA-'. At the same time, S&P Global Ratings assigned its 'AA' rating to UTRWD's approximately $11.8 million series 2025 northeast regional water reclamation system revenue bonds. The upgrade reflects our opinion of the improving credit quality of the district's customers, specifically Mustang Special Utility District, Celina, and Prosper, coupled with our expectation that the participants will continue to support the district's increasing costs and capital projects given the integral support the district's assets provide for the customers' own infrastructure. The outlook is stable. A first-lien net wastewater system revenue pledge, derived from payments to UTRWD
