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Summary: Chimney Hill Municipal Utility District, Texas; General Obligation Oct 11 Product Image

Summary: Chimney Hill Municipal Utility District, Texas; General Obligation Oct 11

  • Published: October 2011
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'A-' long-term rating to Chimney Hill Municipal Utility District, Texas' series 2011 waterworks and sewer system combination unlimited tax and revenue refunding bonds. At the same time, Standard & Poor's affirmed its 'A-' long-term and underlying rating (SPUR) on the district's existing general obligation (GO) debt. The outlook on all ratings is stable. In our view, the ratings reflect the district's: Participation in the deep and diverse economy of the Houston MSA; Strong financial position; and Mature status of development. Partially offsetting the preceding credit strengths is our view of the district's high overall debt burden. A pledge of unlimited ad valorem taxes, with an additional pledge of net revenues from the water...

Companies mentioned in this report are: Chimney Hill Mun Util Dist
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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Chimney Hill Mun Util Dist

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