Standard & Poor's Ratings Services assigned its 'BBB+' long-term rating to Northwest Harris County Municipal Utility District (MUD) No. 32, Texas' series 2012 unlimited-tax bonds. At the same time, Standard & Poor's affirmed its 'BBB+' long-term and underlying rating (SPUR) on the district's general obligation (GO) debt outstanding. The outlook on all ratings is stable. The ratings reflect our opinion of the district's: Moderate direct-tax rates and High overall net debt burden coupled with an extended amortization schedule. In our view, the above credit weaknesses are partly offset by the district's: Mature status of development; Participation in the deep and diverse economy of the Houston metropolitan statistical area (MSA); and Very strong financial position. Unlimited ad valorem taxes levied on...
Companies mentioned in this report are:
- Northwest Harris Cnty Mun Util Dist #32
- Klein Indpt Sch Dist
Action: New Rating
Action: Outlook: Stable
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