NEW YORK (Standard&Poor's) Dec. 1, 2009--Standard&Poor's Ratings Services raised its underlying ratings (SPURs) to 'AA-' from 'A+' on Trinity River Authority, Texas' 2008 state revolving loan (Ten Mile Creek Project) outstanding, issued for the Texas Water Development Board. At the same time, Standard&Poor's assigned its 'AA-' long-term rating, with a stable outlook, to the authority's $29.0 million series 2009 state revolving loan. "We base the upgrade on the SPURs on the credit strength of the water and sewer operations of the system's five participating members," said Standard&Poor's credit analyst Edward McGlade. The members are Cedar Hill, DeSoto, Lancaster, Duncanville, and Ferris, Texas. "In our view, these strengths include: stable customer bases; good
