- Language: English
- Published: March 2012
- Region: Texas
Summary: Harris County Municipal Utility District No.396, Texas; General Obligation Aug 11
- ID: 2201663
- August 2011
- Region: Texas
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'BBB' long-term rating to Harris County Municipal Utility District (MUD) No. 396, Texas' series 2011 unlimited-tax bonds. At the same time, Standard & Poor's affirmed its 'BBB' underlying rating (SPUR) on the district's outstanding general obligation (GO) debt. The outlook on all bonds is stable. The rating reflects our view of the district's: Growing phase of development, coupled with potential growth-driven capital needs; High direct-tax rate; and High overall net debt burden. These factors are partly offset by our view of the district's: Rapid tax base expansion and Very strong financial position. The bonds are secured by an unlimited ad valorem tax levied against all taxable property within the district. The bond proceeds...
Companies mentioned in this report are:
- Harris Cnty Mun Util Dist #396
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
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. SHOW LESS READ MORE >