Summary: Williamson County Municipal Utility District No. 10, Texas; General Obligation Mar 11

Standard & Poors, March 2011

Abstract
Standard & Poor's Ratings Services affirmed its 'BBB+' rating, with a stable outlook, on Williamson County Municipal Utility District (MUD) No. 10, Texas' general obligation (GO) debt. The rating reflects our view of the district's: Access to Round Rock, Texas and Georgetown, Texas, as well as to the deep and diverse economy of the Austin metropolitan statistical area; Good financial position, bolstered by the maintenance of historically healthy reserves; and Low total property tax rate. We believe the district's high overall net debt burden and somewhat extended debt amortization schedule constrain, in part, the rating. An unlimited ad valorem tax levied on all taxable property within the district secures the bonds. The approximately 507-acre Williamson County MUD No. 10 is...

Companies mentioned in this report are:
- Williamson Cnty Mun Util Dist #10

Action: Affirmed
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.

- Williamson Cnty Mun Util Dist #10

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