Harris County Municipal Utility District No. 188, TX GO Rating Raised To #A# On Tax Base Growth And Reduced Debt

Stocks and Financial Services Press Releases Thursday June 7, 2018 10:54
S&P Global Ratings--7 Jun--S&P Global Ratings
S&P Global Ratings has raised its rating to 'A' from 'A-' on Harris County Municipal Utility District (MUD) No. 188, Texas' district's existing general obligation (GO) debt. The outlook is stable.

"We base the higher rating on continued tax base growth and a reduction in direct and overall debt to levels comparable with peers at the higher rating level, combined with very strong reserves," said S&P Global Ratings credit analyst Benjamin Burrows. "The stable outlook reflects our opinion that the district's tax-base growth and limited debt plans will allow the debt burden to continue to improve. We also believe the district will be able to maintain very strong reserves."

An unlimited-ad valorem tax levied on all taxable property in the MUD secures the bonds.

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com. All ratings affected by this rating action can be found on S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


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