DALLAS — The decision of San Antonio-area voters to dissolve the 66-year-old Bexar Metropolitan Water District is not expected to lower ratings of the utility’s $216 million of outstanding revenue bonds, according to Standard & Poor’s.

The struggling utility is expected to be absorbed by the much larger San Antonio Water System after approval by the U.S. Department of Justice, the Texas secretary of state, and the boards of the two water utilities.

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