Trinity River Authority, TX Series A CP Program Rated 'A-1+'; 2014 Revenue Bonds Rated 'AAA'

DALLAS (Standard&Poor's) Oct. 2, 2014--Standard&Poor's Ratings Services said it assigned its 'A-1+' rating to Trinity River Authority (TRA), Texas' series A tax-exempt and taxable series A commercial paper (CP) program. Because it is an extendible maturity CP program with no revolving credit agreement or other liquidity support, the ratings are based on the long-term debt rating of 'AAA' on TRA, which we are affirming. In addition, we assigned our 'AAA' long-term rating to TRA's series 2014 revenue refunding bonds, issued for its Central Regional Wastewater Treatment System (CRW). The stable outlook on the long-term rating reflects our opinion that TRA participant cities will provide revenue that generates adequate debt service coverage and that TRA officials will

...DALLAS (Standard & Poor's) Oct. 2, 2014--Standard & Poor's Ratings Services said it assigned its 'A-1+' rating to Trinity River Authority (TRA), Texas' series A tax-exempt and taxable series A commercial paper (CP) program. Because it is an extendible maturity CP program with no revolving credit agreement or other liquidity support, the ratings are based on the long-term debt rating of '###' on TRA, which we are affirming. In addition, we assigned our '###' long-term rating to TRA's series 2014 revenue refunding bonds, issued for its Central Regional Wastewater Treatment System (CRW). The stable outlook on the long-term rating reflects our opinion that TRA participant cities will provide revenue that generates adequate debt service coverage and that TRA officials will likely adjust wholesale rates, as necessary, to support a sizable capital plan," said Standard & Poor's credit analyst Theodore Chapman. RELATED CRITERIA AND RESEARCH Related Criteria + USPF Criteria: Key Water And Sewer Utility...

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