The rating on Houston, Texas' bonds reflects the city's full faith and credit pledge. Other credit characteristics include: A sizable, deep, and diversifying economic base; Adequate financial operations with a strong general fund reserve mitigating lower-than-anticipated revenues in 2000; and A somewhat high debt burden intensified by a large, but manageable, capital plan. Houston is the diversifying center of Harris County and the expanding Houston MSA, which is a five-county region of 3.7 million people. While the energy sector still remains a critical component of the economy, the health care industry and other regional service businesses continue to diversify in the region. In addition, the Port of Houston continues to lead the development of the city as an international commerce...
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