Summary: Greater Texoma Utility Authority, Texas Gainesville; Water/Sewer Jan 13

Standard & Poors, January 2013

Abstract
Standard & Poor's Ratings Services assigned its 'A-' and stable outlook to the Greater Texoma Utility Authority (GTUA), Texas' series 2013 contact revenue refunding bonds, issued for its city of Gainesville, Texas project. At the same time, we affirmed our 'A-' underlying rating (SPUR) on GTUA's parity contract revenue bonds issued for the city. The rating is based on the utility system of the sole contract participant in these particular GTUA bonds, the city of Gainesville's retail water and sewer utility fund. The city unconditionally pays its obligation to GTUA, take or pay as an operating expense of the city's system. Factors that reflect the city's system's general creditworthiness include, in our opinion, its: Improved liquidity position, as the city...

Companies mentioned in this report are:
- Gainesville
- Greater Texoma Util Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Gainesville
- Greater Texoma Util Auth

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