NEW YORK (Standard&Poor's) Oct. 15, 2008--Standard&Poor's Ratings Services has raised its long-term rating, with a stable outlook, on Trinity River Authority, Texas' Tarrant County Water Project revenue bonds three notches to 'AA' from 'A'. In addition, Standard&Poor's has assigned its 'AA' long-term rating, and stable outlook, to the authority's $50.44 million series 2008 improvement revenue bonds based on the credit quality of the participants. "The upgrade is based on the improved underlying credit quality of the utility systems of the cities of the Tarrant County Water Project," said Standard&Poor's credit analyst Edward McGlade. These cities comprise Bedford, Euless, Grapevine, Colleyville, and North Richland Hills, Texas. "The stable outlook reflects our expectation that
