Fitch Rates Garland, Texas’ Water and Sewer Bank Note ‘AA’; Outlook Stable

AUSTIN, Texas–(BUSINESS WIRE)–Fitch Ratings has assigned an ‘AA’ rating to the bank notes corresponding to the city of Garland, Texas (the city) water and sewer commercial paper notes as follows:

–Approximately $90 million series 2015.

In addition, Fitch affirms the ‘AA’ rating on the following outstanding bonds:

— $108.8 million water and sewer system revenue bonds series 2007, 2008, 2009, 2010, 2011, 2011A, and 2012 at ‘AA’;

–$28.9 million water and sewer system revenue refunding and improvement bonds, series 2013 at ‘AA’; and

–$35.9 million water and sewer system revenue refunding and improvement bonds, new series 2014 at ‘AA’.

The Rating Outlook is Stable.

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