Standard & Poor's Ratings Services assigned its 'AA-' rating to Mansfield, Texas' series 2009 waterworks and sewer system revenue bonds. In addition, Standard & Poor's affirmed its 'AA-' rating and underlying rating (SPUR) on Mansfield's outstanding waterworks and sewer system revenue bonds. The outlook is stable. The rating reflects the system's: Strong, growing service area economy, which benefits from the city's access to the Dallas-Fort Worth metropolitan area; Sufficient capacity, coupled with a manageable capital plan; and Average overall rates relative to those of nearby systems. The system's historical reliance on impact fees, which have decreased recently, resulting in lower projected debt service coverage levels, is an offsetting factor. A pledge of net water and sewer system revenues secures the...
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Action: New Rating
Action: Outlook: Stable
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