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Harris County Municipal Utility District No. 55, TX's Weak Finances Push 'A-' GO Debt Rating Outlook To Negative May 11

Standard & Poors, May 2011

Abstract
DALLAS (Standard & Poor's) May 16, 2011--Standard & Poor's Ratings Services revised its 'A-' general obligation (GO) debt rating outlook to negative from stable on Harris County Municipal Utility District (MUD) No. 55, Texas' GO debt based on Standard & Poor's assessment of the MUD's deteriorating and weak financial position, including negative fund balances reported in the past two fiscal years. Standard & Poor's also assigned its 'A-' long-term rating, and negative outlook, to the district's $4.885 million series 2011 unlimited-tax GO refunding bonds and affirmed its 'A-' underlying rating (SPUR) on the district's existing GO debt. The rating service also withdrew its rating on the district's series 2010-A unlimited-tax GO refunding bonds because the district did not sell the...

Companies mentioned in this report are: Harris Cnty Mun Util Dist #55
Action: Affirmed
Action: New Rating
Action: Outlook: Negative

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.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Harris Cnty Mun Util Dist #55

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