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Summary: Harris County Municipal Utility District No. 64, Texas; General Obligation Apr 12
Standard & Poors, April 2012
Standard & Poor's Ratings Services has assigned its 'BBB+' rating to Harris County Municipal Utility District (MUD) No. 64, Texas' series 2012A unlimited-tax bonds. At the same time, Standard & Poor's affirmed its 'BBB+' rating on the district's existing general obligation (GO) debt. The outlook is stable. The ratings reflect our view of the MUD's: Recent decline in taxable assessed value; and High overall net debt burden, coupled with below-average amortization. The following factors mitigate our view of these weaknesses: Mature status of development; and Good financial position, with low direct and total property tax rates. An unlimited ad valorem tax levied on properties within the district secures the bonds. The proceeds will fund capital improvements. The MUD encompasses approximately...
Companies mentioned in this report are: Harris Cnty Mun Util Dist #64,Katy Indpt Sch Dist
Action: New Rating
Action: Outlook: Stable
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Harris Cnty Mun Util Dist #64,Katy Indpt Sch Dist