Upper Trinity Regional Water District, TX Debt Rating Raised Three Notches To #A+# On Improved Credit Quality

Stocks and Financial Services Press Releases Friday January 20, 2017 08:55
DALLAS--20 Jan--S&P Global Ratings

DALLAS (S&P Global Ratings) Jan. 19, 2017--S&P Global Ratings raised its underlying rating (SPUR) on Upper Trinity Regional Water District, Texas' northeast regional water reclamation bonds three notches to 'A+' from 'BBB+'. The outlook is stable.

The rating action reflects S&P Global Ratings' opinion of the generally improved credit quality of the district's established customers, specifically Mustang Special Utility District, Celina, and Prosper (started sending flows in 2016). The rating action also reflects S&P Global Ratings' opinion of the system's credit fundamentals under the rating service's recently revised water sewer criteria.

The rating service bases the rating on the eight system participants' general creditworthiness and the system's ability to adjust rates on the participants at any time for any reason, effectively creating an unlimited step-up provision.

"We do not currently expect to change the rating further within our two-year outlook period. However, we could raise the rating if general credit quality were to improve due to the stronger-rated utilities," said S&P Global Ratings credit analyst Jose Razo. "We could lower the rating if the stronger-rated participants' financial risk profiles were to deteriorate due to higher operating and debt-related costs from wholesale providers."

The stable outlook reflects S&P Global Ratings' opinion of the district participants' credit quality, which will remain supportive of the rating. The rating service believes participants' strong credit characteristics, specifically their strong financial risk profiles, and access to the Dallas-Fort Worth metropolitan statistical area will likely maintain the outlook.

A first-lien net-wastewater system-revenue pledge, derived from payments to the district from contracted members, secures the bonds.

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.globalcreditportal.com and at www.spcapitaliq.com. All ratings affected by this rating action can be found on the S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


Latest Press Release

USD120,000 at stake in CIMBs 3D Conquest to unearth ASEANs top #digital talents Competition sets path for nurturing crucial skills in data science, FinTech and coding among tertiary students

CIMB Group Holdings Berhad ("the Group" or "CIMB") has launched the CIMB 3D Conquest, a competition that aims to identify and attract ASEAN's top creative, young digital talent with an agile and entrepreneurial mindset. Open to all tertiary students, the...

Allianz to become Worldwide Olympic Insurance Partner

The International Olympic Committee (IOC) and Allianz today announced that the insurer will join the "Worldwide Olympic Partner" (TOP) Programme in 2021. Through this sponsorship agreement, Allianz will work with the IOC to provide innovative and...

BYFX Global Co., Limited Announces Business Launch

BYFX Global Co., Limited (BYFX Global) today announced the launch of its retail and institutional business -- offering clients around the globe top-tier liquidity and online OTC trading for Spot FX and Spot Bullion[1]. Striving towards financial...

2018 Robot World to Suggest Direction for the Fourth Industrial Revolution

Showcasing the latest robot technologies from around the world, the 2018 Robot World will be held at KINTEX, Korea from October 10-13, 2018. The Robot World (eng.robotworld.or.kr/wp), celebrating its 13th anniversary this year, consists of four main...

ชวนผู้ประกอบการเรียนรู้เส้นทางความสำเร็จของสตาร์ทอัพแอปพลิเคชัน เคลมดิ อังคาร 25 ก.ย. นี้

ตลาดหลักทรัพย์ฯ ขอเชิญผู้ประกอบการ Social Enterprise (SE) SMEs และ Startup ร่วมอบรมครั้งพิเศษในโครงการ SET Social Impact Gym หัวข้อ "Fintech vs Social Startup... Lesson Learned..." พบกับสตาร์ทอัพเจ้าของแอปพลิเคชัน "เคลมดิ" (Claim Di)...

Related Topics