Summary: Cinco Southwest Municipal Utility District No. 1, Texas; General Obligation May 10
- ID: 1721398
- May 2010
- Region: Texas
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'BBB-' long-term rating to Cinco Southwest Municipal Utility District (MUD) No. 1, Texas' series 2010A contract revenue bonds. At the same time, Standard & Poor's affirmed its 'BBB-' rating on the MUD's outstanding contract revenue bonds. The ratings are 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 outlook on all ratings is stable. The ratings also represent 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...
Companies mentioned in this report are:
- Cinco Southwest Mun Util Dist #1
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >