Celina, TX Public Improvement District Series 2020 Refunding Bonds Assigned 'BBB-' Rating

FARMERS BRANCH (S&P Global Ratings) Aug. 5, 2020--S&P Global Ratings assigned its 'BBB-' rating, with a stable outlook, to the city of Celina, Texas' special assessment revenue refunding bonds series 2020 (Lakes at Mustang Ranch Public Improvement District [PID] Phase No. 1 Project). The rating and outlook reflect our expectation that the local economy and real estate market will likely remain stable and that the district will likely benefit from access to the Dallas-Fort Worth metropolitan statistical area, which we consider broad and diverse. "In addition, we expect concentration will likely decrease modestly as the district is fully developed, delinquencies in the assessment area will likely remain low, and assessments will likely remain sufficient to pay bond debt service," said

...August 5, 2020 FARMERS BRANCH (S&P Global Ratings) Aug. 5, 2020--S&P Global Ratings assigned its '###-' rating, with a stable outlook, to the city of Celina, Texas' special assessment revenue refunding bonds series 2020 (Lakes at Mustang Ranch Public Improvement District [PID] Phase No. 1 Project). The rating and outlook reflect our expectation that the local economy and real estate market will likely remain stable and that the district will likely benefit from access to the Dallas-Fort Worth metropolitan statistical area, which we consider broad and diverse. "In addition, we expect concentration will likely decrease modestly as the district is fully developed, delinquencies in the assessment area will likely remain low, and assessments will likely remain sufficient to pay bond debt service," said S&P Global Ratings credit analyst Andy Hobbs. Given remaining uncertainty related to COVID-19 and the related recession, we will continue to monitor for any material adverse effects on the district's...

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