Summary: Galveston County Municipal Utility District No. 15, Texas; General Obligation Feb 12
- ID: 2059476
- February 2012
- Region: Texas
- Standard & Poors
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: New Rating
Action: Outlook: Stable
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