Summary: Brazoria County Municipal Utility District No. 6, Texas; General Obligation Jan 11

Standard & Poors, January 2011

Abstract
Standard & Poor's Ratings Services has assigned its 'A' long-term rating and stable outlook to Brazoria County Municipal Utility District (MUD) No. 6, Texas' series 2011 unlimited-tax bonds. At the same time, Standard & Poor's affirmed its 'A' underlying rating (SPUR) on the district's general obligation debt. The 'A' ratings reflect our view of the district's: Mature status of development, limiting additional capital needs; Participation in the Houston metropolitan statistical area (MSA), boosting wealth and income indicators; and A very strong debt service fund balance, accounting for 1.6x maximum annual debt (MADS) service coverage. These strengths are somewhat offset, in our opinion, by the district's: Weakened financial position, evidenced by consecutive drawdowns and a low unreserved fund balance as a...

Companies mentioned in this report are: Brazoria Cnty Mun Util Dist #6
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Brazoria Cnty Mun Util Dist #6

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