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Summary: Fort Bend County Municipal Utility District No. 116, Texas; General Obligation Jun 11
Standard & Poors, June 2011
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: New Rating
Action: Outlook: Stable
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Fort Bend Cnty Mun Util Dist #116