Standard & Poor’s Thursday raised its underlying rating on Conroe, Tex.s’ water and sewer system revenue debt two notches to AA-minus from A based on the system’s good financial performance, as evidenced by strong liquidity and debt service coverage. The outlook is stable.

The rating agency also assigned its AA-minus standard long-term rating, and stable outlook, to the city’s $10.05 million of Series 2008 water and sewer system revenue bonds.

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