Moody's assigns P-1 rating to San Antonio Water CP

Moody's Investors Service said it assigned a P-1 rating to the City of San Antonio Water System's $500 million series A commercial paper notes.

The expected sale date is July 8.

The rating is based on a revolving credit agreement for standby liquidity with Bank of America NA (Aaa long-term rating/P-1 short-term rating) and State Street Bank & Trust Co. (Aa1/P-1).

Proceeds will fund capital improvements.

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