...May 9, 2024 NEW YORK (S&P Global Ratings) May 9, 2024--S&P Global Ratings affirmed its '##-' underlying rating (SPUR) on Upper Trinity Regional Water District (UTRWD), Texas' northeast regional water reclamation system revenue bonds and revised the outlook to positive from stable. At the same time, S&P Global Ratings assigned its '##-' rating to UTRWD's series 2024 northeast regional water reclamation system revenue bonds. "The positive outlook reflects our opinion of the improving credit quality of the district's established customers, specifically Mustang Special Utility District, Celina, and Prosper, coupled with our expectation that the district will be able to work through its capital plan while letting the participants successfully absorb the increasing costs," said S&P Global Ratings credit analyst Edward McGlade. A first-lien net wastewater system revenue pledge, derived from payments to UTRWD from contracted members, secures the bonds. While we consider bond provisions weak, they...
