About

Fitch Revises Outlook of Lower Colorado River Authority, TX to Stable; Affirms IDR at 'AA-'

Fitch Ratings - Austin - 27 May 2022: Fitch Ratings has affirmed the 'AA-' Issuer Default Rating (IDR) and rating on the following bonds of the Lower Colorado River Authority, TX (LCRA):

--$1.2 billion revenue and refunding revenue bonds, series 2013, 2015A, 2015B, 2015D, 2020, 2022;

--Bank bond rating on CP series B.

The Rating Outlook has been revised to Stable from Negative.

Funding will boost 32 projects benefiting first responders, community centers and local civic groups in LCRA’s service area

AUSTIN, Texas – The Lower Colorado River Authority recently awarded more than $730,000 in Community Development Partnership Program grants for a wide range of projects across LCRA’s wholesale electric, water and transmission service areas.

The grants will help fund 32 community projects, including the purchase of a new firetruck for the Wall Volunteer Fire Department in Tom Green County and renovation of the Wharton Civic Center in Wharton County. Other grants will help fund a new public park alongside the Colorado River in Smithville; the construction of a live-fire training facility in Coleman; and the completion of renovations to public art galleries in downtown Llano.

Fourteen of the projects will support first responders by providing new protective gear, emergency vehicles and other critical resources. One grant will help pay for a 40,000-gallon water tank firefighters can use in the Spicewood area, where the nearest fire hydrants are several miles away. Another will provide a new thermal imaging camera and smoke evacuation fans to aid firefighters in Kerr County.

LCRA General Manager Phil Wilson said providing these grants to volunteer fire departments and other first responders is important to help keep communities safe.

“By helping supply new protective gear and better, up-to-date equipment, we can make it easier for first responders to get to emergencies quickly, with top-notch gear at their sides as they work to protect people who need help,” Wilson said.

Wilson said the grants are one way LCRA gives back to the communities it serves.

“LCRA is proud to contribute to these much-needed projects,” Wilson said. “Each individual project adds value to its community. We’re pleased to support these projects, and in turn, the economic development of communities in our service area.”

To date, LCRA and its wholesale electric customers have awarded 1,852 community grants totaling nearly $48 million. When combined with more than $228 million in community-raised matching funds, the program has invested more than $276 million in local communities.

CDPP grants are awarded twice a year for capital projects for volunteer fire departments, emergency responders, cities and counties, schools, libraries, civic groups, museums, and other tax-exempt non-profit organizations. Applications for the next round of grants will be available at lcra.org/cdpp on Jan. 1 and are due by midnight on Jan. 31.

The 32 grants awarded in the most recent grant cycle are:

• BANDERA COUNTY: A $17,331 grant from LCRA and Bandera Electric Cooperative to the Castle Lake Ranch Volunteer Fire Department for new equipment, including an automated external defibrillator and a self-contained breathing apparatus system.
• BASTROP: A $12,960 grant from LCRA to the Bastrop Fire Department for a new mechanical CPR device that will perform chest compressions automatically as first responders focus on other aspects of emergency cardiac care.
• BRENHAM: A $19,840 grant from LCRA and the City of Brenham to the Brenham Fire Department for new wildfire and technical rescue suits that will better protect its first responders.
• BURNET COUNTY: A $23,727 grant from LCRA and Pedernales Electric Cooperative to Hoover Valley Volunteer Fire and Emergency Services for new battery-operated rescue tools that are lighter, stronger and more versatile than the ones used previously.
• CALDWELL COUNTY: A $25,000 grant from LCRA and Bluebonnet Electric Cooperative to the Delhi Community Center for exterior renovations, including new siding and energy-efficient double-paned windows.
• CARMINE: A $6,000 grant from LCRA and Bluebonnet Electric Cooperative to Cedar Creek Schuetzen Verein for long-needed renovations to the women’s restroom at Carmine Hall, including the addition of a handicapped-accessible stall.
• COLEMAN: A $50,000 grant from LCRA to the Coleman Fire Department for construction of a live-fire training facility where area firefighters can gain hands-on experience fighting fires in a controlled setting.
• COLEMAN COUNTY: A $24,900 grant from LCRA to the Lake Coleman Volunteer Fire Department for the expansion of its station, which will be outfitted with gutters that capture rainwater for use in fighting fires.
• COLORADO COUNTY: A $25,000 grant from LCRA to the non-profit Friends of Zimmerscheidt Historic School for construction of a covered pavilion that will provide additional meeting space at the site of the former one-room schoolhouse.
• COLUMBUS: A $17,930 grant from LCRA to the Colorado County Fair Association for new energy-saving lighting in the fairground parking area and electrical upgrades inside the fairground hall.
• COMFORT: A $16,800 grant from LCRA and Bandera Electric Cooperative to the Comfort Public Library for the replacement of a leaky roof atop its historic building and the addition of a rainwater collection system.
• ELLINGER: A $21,315 grant from LCRA and Bluebonnet Electric Cooperative to the Ellinger Chamber of Commerce for a new walk-in cooler and heating and air conditioning system at the Ellinger Community Center.
• GOLDTHWAITE: A $5,000 grant from LCRA and the City of Goldthwaite to the Mills County Historical Museum for structural repairs to the museum building, which was built in 1893.
• GOLDTHWAITE: A $25,000 grant from LCRA to the City of Goldthwaite for the installation of an energy-efficient heating and air conditioning system at the historic Mills County Theatre, a popular venue for community events.
• JOHNSON CITY: A $25,000 grant from LCRA and Pedernales Electric Cooperative to the Science Mill for the creation of a Light Loom exhibit at the hands-on museum that emphasizes STEM-focused learning.
• KARNES COUNTY: A $16,696 grant from LCRA to the Panna Maria Historical Society for the replacement of inoperable outdoor lighting at the former Panna Maria School, now a community center.
• KERR COUNTY: A $24,999 grant from LCRA and Bandera Electric Cooperative to the Center Point Volunteer Fire Department for new equipment, including a thermal imaging camera and a smoke evacuation fan.
• LLANO: A $24,090 grant from LCRA and the City of Llano to the Llano County Art Association for the completion of renovations to art galleries housed in two downtown buildings.
• LULING: A $20,000 grant from LCRA and the City of Luling to the Luling Area Oil Museum for the installation of a new geothermal heating and air conditioning system and remodeling that will create additional meeting space.
• McCULLOCH COUNTY: A $21,045 grant from LCRA to the Rochelle Study Club for exterior and interior renovations to the 109-year-old train depot that has served as the Rochelle Memorial Community Center since 1956.
• SABINAL: A $19,903 grant from LCRA to Sabinal Emergency Medical Services for a new state-of-the-art ambulance stretcher that will improve patient care and protect emergency responders.
• SCHULENBURG: A $47,855 grant from LCRA and the City of Schulenburg to the Schulenburg Volunteer Fire Department for the construction of a new building to store and protect firetrucks and other emergency equipment.
• SINTON: A $6,670 grant from LCRA to the Sinton Historical Museum for the installation of three exterior doors designed to improve security and keep ultraviolet rays, wind and rain from damaging the museum’s contents.
• SMITHVILLE: A $13,900 grant from LCRA and the City of Smithville to Smithville Community Gardens for a new roof and other significant renovations at the group’s community center.
• SMITHVILLE: A $5,000 grant from LCRA and Bluebonnet Electric Cooperative to Dr. George M. Jones VFW Post 1309 for the creation of a public park that will have a covered picnicking area and access to the Colorado River.
• SPICEWOOD: A $25,000 grant from LCRA and Pedernales Electric Cooperative to the Double Horn Creek Water Supply Corp. for a 40,000-gallon water storage tank that will support area firefighting efforts.
• SPRING BRANCH: A $19,241 grant from LCRA and Pedernales Electric Cooperative to Bulverde Spring Branch Emergency Services for equipment to outfit a team of water-rescue specialists.
• TOM GREEN COUNTY: A $50,000 grant from LCRA to the Wall Volunteer Fire Department for the purchase of a new 3,000-gallon fire tanker/pumper truck.
• UVALDE COUNTY: A $21,120 grant from LCRA and Bandera Electric Cooperative to the Concan Volunteer Fire Department for a new off-road vehicle that will be used to transport patients across rough terrain and help fight wildfires.
• WASHINGTON COUNTY: A $24,093 grant from LCRA and Bluebonnet Electric Cooperative to the Chappell Hill Historical Society for exterior repairs, an energy-efficient air conditioner and a rainwater collection system at the Chappell Hill Circulating Library.
• WEIMAR: A $24,950 grant from LCRA to the Oakridge Volunteer Fire Department for the completion of the interior construction of its new fire station, which will have three meeting rooms, a training room and five bays for firetrucks and other large equipment.
• WHARTON: A $50,000 grant from LCRA to the City of Wharton for a renovation of the Wharton Civic Center that will include new flooring and the addition of a retractable wall

About LCRA
The Lower Colorado River Authority serves customers and communities throughout Texas by managing the lower Colorado River; generating and transmitting electric power; providing a clean, reliable water supply; and offering outdoor adventures at more than 40 parks along the Colorado River from the Texas Hill Country to the Gulf Coast. LCRA and its employees are committed to fulfilling our mission to enhance the quality of life of the Texans we serve through water stewardship, energy and community service. LCRA was created by the Texas Legislature in 1934 and receives no state appropriations. For more information, visit lcra.org.

S&P Global Ratings assigned its 'A' rating to the Lower Colorado River Authority (LCRA), Texas' $247.875 million series 2022 refunding revenue bonds and $170.65 million series 2021A transmission contract refunding revenue bonds.