Summary: Fort Bend County Municipal Utility District No. 116, Texas; General Obligation Jun 11

Standard & Poors, June 2011

Abstract
Standard & Poor's Ratings Services assigned its 'BBB' long-term rating to Fort Bend County Municipal Utility District No. 116, Texas' series 2011 unlimited-tax refunding bonds. At the same time, Standard & Poor's affirmed its 'BBB' underlying rating (SPUR) on the district's general obligation (GO) debt outstanding. The outlook is stable. The ratings reflect our assessment of the district's: Growing status of development, High overall debt burden, and High direct tax rate. These factors are offset in part by our view of the district's: Access to Houston's deep and diverse metropolitan area, and Good financial position. Unlimited ad valorem taxes levied on all property within the district secure the bonds. The 741-acre district is located just west of Sugar Land, Texas...

Companies mentioned in this report are: Fort Bend Cnty Mun Util Dist #116
Action: Affirmed
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.

Fort Bend Cnty Mun Util Dist #116

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