Fitch Ratings, Moody's Investors Service, and S&P Global Ratings assign AAA rating for General Obligation Water Financial Assistance Bonds, Series 2019A and B

For immediate release. Contact: Media Relations at 512-463-5129

AUSTIN – (January 11, 2019) – Fitch Ratings, Moody's Investors Service, and S&P Global Ratings have all assigned "AAA" ratings for the Texas Water Development Board's (TWDB) upcoming issuance of general obligation bonds.

The TWDB will issue approximately $40 million State of Texas General Obligation Water Financial Assistance Bonds, Series 2019A, and $8.9 million taxable Series 2019B. The bonds are expected to price by competitive sale on January 28.

Backed by the full faith and credit of the State of Texas, proceeds of the bonds will be used for the Economically Distressed Areas Program (EDAP). The EDAP program provides financial assistance for projects serving areas where water or water sewer service do not exist or systems do not meet minimum state standards.

The TWDB is the state agency charged with collecting and disseminating water-related data, assisting with regional planning, and preparing the state water plan for the development of the state's water resources. The TWDB administers cost-effective financial assistance programs for the construction of water supply, wastewater treatment, flood control, and agricultural water conservation projects.