Bexar Metropolitan Water District, TX Debt Rating Placed On CreditWatch Developing After Dissolution Vote Nov 11

Standard & Poors, November 2011

Abstract
DALLAS (Standard & Poor's) Nov. 11, 2011--Standard & Poor's Ratings Services said today it placed its 'A' rating on Bexar Metropolitan Water District (Bexar Met), Texas' waterworks system revenue debt on CreditWatch with developing implications. Standard & Poor's also placed on CreditWatch with developing implications its 'A' underlying ratings (SPURs) on Bexar Metropolitan Development Corp.'s (BMDC) series 1998 water facility contract revenue bonds and Canyon Regional Water Authority's (CRWA) contract revenue debt. "The action on Bexar Met is based on the results of the November 8, 2011, election in which district voters approved a measure of dissolution of the district," said Standard & Poor's credit analyst Theodore Chapman. This paves the way for the district to merge with the city...

Companies mentioned in this report are: Bexar Metro Dev Corp,San Antonio,Bexar Metro Wtr Dist,Canyon Regl Wtr Auth
Action: On CreditWatch:Developing

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.

Bexar Metro Dev Corp,San Antonio,Bexar Metro Wtr Dist,Canyon Regl Wtr Auth

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