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Fitch Affirms TRWD, Texas’ WaterRevs at ‘AA+’; Outlook Stable

By October 8, 2021

The ‘AA+’ IDR and issue rating on the water revenue bonds primarily reflect the purchaser credit quality (PCQ) and demonstrated credit strength of the district’s largest contracting parties coupled with the district’s own very strong operating profile. The ratings also consider the district’s relatively stable leverage (net adjusted debt to adjusted funds available for debt service) of 9.5x, but the district’s financial profile is less of a consideration in the rating.

Read more here.

 

Lake Current Level Conservation Level* Level Difference**
Arlington 552.17 550.00 2.17
Benbrook 694.89 694.00 0.89
Bridgeport 838.14 836.00 2.14
Cedar Creek 322.29 322.00 0.29
Eagle Mountain 647.52 649.10 -1.58
Lake Worth 592.25 594.00 -1.75
Richland-Chambers 315.89 315.00 0.89

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*Conservation Level: The permitted level of water an entity is allowed to hold in a lake. Any amount above the conservation level is used for the temporary storage of flood waters and must be released downstream.

**Difference: Amount above or below conservation level.

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