Standard & Poor's Ratings Services said it raised its rating on Beeville Water Supply District, Texas' existing general obligation debt one notch to A-plus from A.
The outlook is stable.
"The upgrade is based on the district's continued tax base growth and moderating overall net debt burden," said Standard & Poor's credit analyst Ann Richardson.
The city of Beeville is located 50 miles northwest of Corpus Christi, Texas.
The district is authorized to acquire or construct reservoirs, wells, and all other facilities necessary or useful for the purpose of diverting, impounding, drilling, storing, testing, and transporting water to the city of Beeville.
The existing water treatment and distribution system consists of a filtration and treatment plant located at Lake Corpus Christi; two pump stations; and an 18.1-mile, 24-inch transmission line that connects with Beeville's distribution system.
