Summary: Brazoria County Municipal Utility District No. 6, Texas; General Obligation Jan 11
- ID: 2045932
- January 2011
- Region: Texas
- Standard & Poors
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: New Rating
Action: Outlook: Stable
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