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
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Research type: News
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Harris Cnty Mun Util Dist #55
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