Standard & Poor's Ratings Services assigned its 'BBB-' long-term rating to Harris County Municipal Utility District (MUD) No. 284, Texas' series 2012 unlimited-tax general obligation (GO) bonds. At the same time, Standard & Poor's affirmed its 'BBB-' underlying rating (SPUR) on the district's existing GO debt. The outlook on all ratings is stable. The ratings reflect our view of the district's: Growing status of development coupled with significant capital needs; High direct property tax rate; and High overall net debt burden, coupled with slow amortization. The preceding credit factors are partly offset by our view of the district's: Access to, and participation in, the Houston MSA's deep and diverse economy; and Very strong financial position coupled with a very strong...
Companies mentioned in this report are:
- Harris Cnty Mun Util Dist #284
Action: New Rating
Action: Outlook: Stable
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