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:
- Greater Texoma Util Auth
Action: New Rating
Action: Outlook: Stable
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