DALLAS — Standard & Poor’s upgraded the underlying credit of the Brazos River Authority to AA from AA-minus due to the issuers “maintenance of a strong and likely sustainable financial position.”

The upgrade applies to about $53.5 million of parity revenue bonds outstanding and analysts assigned the higher rating to the authority’s upcoming sale of $22 million of Series 2009 water-supply system revenue bonds. Officials weren’t immediately available to comment on when the bonds will come to market.

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