Summary: Cinco Municipal Utility District No. 1, Texas; General Obligation Jun 09
- ID: 1932017
- June 2009
- Region: Texas
- Standard & Poors
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: New Rating
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