S&P Global Ratings assigned its 'AAA' long-term rating to Tarrant Regional Water District (TRWD), Texas' anticipated $333.9 million series 2026 water revenue refunding and improvement bonds. At the same time, we affirmed our 'AAA' long-term rating on the district's previously issued long-term revenue bonds. Finally, we affirmed our 'A-1+' short-term rating on the district's series A commercial paper (CP) program. The outlook, where applicable, is stable. ENGLEWOOD (S&P Global Ratings) March 13, 2026--S&P Global Ratings today took the rating actions listed above. We view environmental, social, and governance risks as credit neutral but note that the district and its members are exposed to physical risks such as drought and flooding. Despite this, we view district management as a key credit
