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Trinity River Authority, TX 2008 State Revolving Loan SPUR Raised To 'AA-' From 'A+' On Credit Strength Dec 09 Product Image

Trinity River Authority, TX 2008 State Revolving Loan SPUR Raised To 'AA-' From 'A+' On Credit Strength Dec 09

  • ID: 1887867
  • December 2009
  • Standard & Poors

Abstract
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...

Companies mentioned in this report are:
- Trinity River Auth

Action: New Rating
Action: Outlook: Stable
Action: Upgraded

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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