Standard & Poor's Ratings Services assigned its 'BBB-' rating, and stable outlook, to Cinco Southwest Municipal Utility District (MUD) No. 1, Texas' series 2010 contract revenue bonds and affirmed its 'BBB-' rating, with a stable outlook, on the district's existing contract revenue bonds. The rating is based on the unconditional obligations of the participating MUDs to make payments severally to MUD No. 1 from the levy of an unlimited ad valorem property tax. The rating represents the participating MUDs' characteristics, which collectively demonstrate: A high overall net debt burden, including the direct debt of the individual participants and the overlapping taxing entities, with significant additional capital plans; and A high total tax rate for service area residents. These factors are...
Companies mentioned in this report are:
- Cinco Southwest Mun Util Dist #1
Action: New Rating
Action: Outlook: Stable
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