...April 3, 2024 NEW YORK (S&P Global Ratings) April 3, 2024--S&P Global Ratings raised its underlying rating (SPUR) on Harris County Municipal Utility District (MUD) No. 460, Texas' general obligation (GO) debt one notch to '###+' from '###'. The outlook is stable. At the same time, S&P Global Ratings assigned its '###+' rating and stable outlook to the MUD's roughly $5.1 million series 2024 unlimited-tax GO road bonds. The rating action reflects our opinion of the MUD's maintenance of extraordinarily high reserves and robust assessed value growth during the past three years that we think will likely continue due to its location in the Houston-Woodlands-Sugar Land metropolitan statistical area. "We could lower the rating if the MUD were to spend down reserves materially or if debt were to increase substantially," said S&P Global Ratings credit analyst Katy Vazquez. "Assuming the MUD maintains strong finances, we could raise the rating if its status of development were to improve comparable...
