Standard&Poor's Ratings Services assigned its 'AA-' rating, and stable outlook, to Victoria, Texas' series 2015B utility system revenue refunding bonds. At the same time, Standard&Poor's affirmed its 'AA-' rating on the city's existing utility system revenue bonds. The rating reflects our assessment of the system's: Historically good financial profile including good debt service coverage (DSC), net of transfers, and strong liquidity; Stable and diverse customer base; and Limited capital needs after completion of the wastewater treatment plant. A first-lien net revenue pledge on the waterworks and sanitary sewer system secures the bonds. Bond proceeds will be used to refund a portion of the city's outstanding revenue bonds. Victoria, with a population of about 64,100, is 30
