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Summary: Galveston County Municipal Utility District No. 15, Texas; General Obligation Feb 12 Product Image

Summary: Galveston County Municipal Utility District No. 15, Texas; General Obligation Feb 12

  • ID: 2059476
  • February 2012
  • Region: Texas
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'BBB' long-term rating to Galveston County Municipal Utility District (MUD) No. 15, Texas' series 2012 combination unlimited-tax and revenue refunding bonds. At the same time, Standard & Poor's affirmed its 'BBB' underlying rating (SPUR) on the district's existing combination unlimited-tax and revenue bonds. The outlook on all ratings is stable. The ratings reflect our view of the district's: High overall net debt burden, and High total property tax rate. These factors are offset in part by our view of the district's: Mature development, limiting future capital needs; Very strong financial position; and Status as an in-city MUD and strong oversight from League City, Texas on the district's rate and direction of growth. An...

Companies mentioned in this report are: Galveston Cnty Mun Util Dist #15,Dickinson Indpt Sch Dist
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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Galveston Cnty Mun Util Dist #15,Dickinson Indpt Sch Dist

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