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TRINITY RIVER AUTHORITY OF TEXAS WASTEWATER REVENUE BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 TRINITY RIVER AUTHORITY OF TEXAS WASTEWATER REVENUE BONDS
 RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, April 21 /PRNewswire/ -- Trinity River Authority of Texas' (TRA) $33 million regional wastewater system improvement revenue bonds, series 1992, are rated A+ by Fitch. Approximately $251.6 million of outstanding parity bonds are also rated A+. The credit trend is stable.
 TRA is a regional authority responsible primarily for providing wastewater and water service to major portions of northeast Texas. The central regional wastewater system serves 19 cities and the Dallas/Fort Worth airport, an area of approximately 740,000 customers. Plant performance has been excellent and current expansion, to be completed in 1993, should meet capacity requirements through the year 2010. The credit quality of contracting participants is generally above average and financial operations of the utility systems are positive. Senior management is viewed favorably.
 Water and wastewater rates of the member systems are high, which is a credit weakness. However, projected future wholesale rate increases are modest. Legal covenants are adequate for a regional utility such as TRA, but the cost of service methodology employed provides little margin of safety. The four largest participants account for over 70 percent total wastewater volume.
 -0- 4/21/92
 /CONTACT: Alan Spen, 212-908-0594, or Rebecca Bachman, 212-908-0516, both of Fitch/ CO: Trinity River Authority of Texas ST: Texas IN: SU: RTG


SM -- NY040 -- 0511 04/21/92 10:25 EDT
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Publication:PR Newswire
Date:Apr 21, 1992
Words:236
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