Fort Bend County Municipal Utility District No. 35, TX GO Bond Rating Raised To 'A' On Growing Tax Base

CENTENNIAL (S&P Global Ratings) May 9, 2022--S&P Global Ratings raised its underlying rating (SPUR) to 'A' from 'A-' on Fort Bend County Municipal Utility District (MUD) No. 35, Texas' general obligation debt outstanding. The outlook is stable. "The raised rating reflects our opinion of the district's large and growing tax base and lower debt burden, relative to its peers," said S&P Global Ratings credit analyst Lauren Levy. Given the MUD's location in the Houston MSA, the district is exposed to extreme weather events, which elevate its environmental risk above our view of the sector standard. Officials report that the district did not sustain material damage and there was no interruption of water or sewer service during any recent severe weather

...May 9, 2022 CENTENNIAL (S&P Global Ratings) May 9, 2022--S&P Global Ratings raised its underlying rating (SPUR) to 'A' from 'A-' on Fort Bend County Municipal Utility District (MUD) No. 35, Texas' general obligation debt outstanding. The outlook is stable. "The raised rating reflects our opinion of the district's large and growing tax base and lower debt burden, relative to its peers," said S&P Global Ratings credit analyst Lauren Levy. Given the MUD's location in the Houston MSA, the district is exposed to extreme weather events, which elevate its environmental risk above our view of the sector standard. Officials report that the district did not sustain material damage and there was no interruption of water or sewer service during any recent severe weather events. We also analyzed the MUD's social and governance risks relative to its economy, management, financial measures, and debt and liability profile, and determined that these are in line with our view of the sector standard. Located...

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