Tarrant Regional Water District, TX's Series 2025 Unlimited-Tax Bonds Assigned 'AAA' Rating; Outlook Is Stable

S&P Global Ratings assigned its 'AAA' long-term rating to Tarrant Regional Water District (TRWD), Texas' approximately $48.2 million series 2025 unlimited-tax bonds. At the same time, we affirmed our 'AAA' rating on the district's existing bonds and our 'A-1+' short-term rating on the district's extendable commercial paper (CP) program. The outlook is stable, where applicable. ENGLEWOOD (S&P Global Ratings) July 18, 2025--S&P Global Ratings today took the rating actions listed above. Our analysis incorporates the district's environmental, social, and governance (ESG) factors relative to its credit factors, and we view them as neutral in our credit analysis. Management reports no erosion along the riverbank and future capital plans incorporate significant repair on canals throughout the district, mitigating flooding risk in

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