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S&P gives AA to Texas water bonds
Standard & Poor's said it assigned an AA rating and stable outlook to the Texas Water Development Board's $115.205 million of series 2008A water infrastructure fund bonds, supported by Texas, based on the state's general obligation bonds.
At the same time, S&P said it affirmed the AA standard long-term rating and underlying rating on the board's roughly $1.2 billion of G.O. and appropriation-backed debt.
The outlook is stable.
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