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Summary: Cinco Municipal Utility District No. 1, Texas; General Obligation Jun 09 Product Image

Summary: Cinco Municipal Utility District No. 1, Texas; General Obligation Jun 09

  • ID: 1932017
  • June 2009
  • Region: Texas
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'A' long-term rating, and stable outlook, to Cinco Municipal Utility District (MUD) No. 1, Texas' series 2009 contract revenue refunding bonds and affirmed its 'A' rating and Standard & Poor's underlying rating (SPUR), with a stable outlook, on the district's previously issued contract revenue debt. MUD No. 1 provides common infrastructure in its role as the master district for itself and other participating MUDs also within the Cinco Ranch master-planned community. The ratings are based on our view of the unconditional obligations of the participating MUDs to make payments severally to MUD No. 1 from the levy of an unlimited ad valorem property tax. In addition, an unlimited step-up provision exists to replenish...

Companies mentioned in this report are:
- Cinco Mun Util Dist #1

Action: Affirmed
Action: New Rating

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