Harris County Municipal Utility District No. 460, TX Series 2019 Bonds Assigned 'BBB-' Rating

DALLAS (S&P Global Ratings) Nov. 20, 2018--S&P Global Ratings assigned its 'BBB-' rating to Harris County Municipal Utility District (MUD) No. 460, Texas' unlimited-tax bonds series 2019. The outlook is stable. The 'BBB-' rating reflects our view of the district's: Access to Houston's deep and diverse economy; Strong tax base expansion, as evidenced by double-digit growth in the past several years; Status as an in-city MUD, resulting in limited operations and a low direct property tax rate; and Very strong fund balances as a percentage of budget. Partially offsetting the above strengths, in our opinion, is the district's early status of development that will likely necessitate additional debt issuance. "The stable outlook reflects our expectation that the district's tax base

...(Editor's Note: We are republishing this article, originally published Nov. 20, 2018, to correct the name of the 2019 bonds.) DALLAS (S&P Global Ratings) Nov. 20, 2018--S&P Global Ratings assigned its '###-' rating to Harris County Municipal Utility District (MUD) No. 460, Texas' unlimited-tax bonds series 2019. The outlook is stable. The '###-' rating reflects our view of the district's: + Access to Houston's deep and diverse economy; + Strong tax base expansion, as evidenced by double-digit growth in the past several years; + Status as an in-city MUD, resulting in limited operations and a low direct property tax rate; and + Very strong fund balances as a percentage of budget. + Partially offsetting the above strengths, in our opinion, is the district's early status of development that will likely necessitate additional debt issuance. "The stable outlook reflects our expectation that the district's tax base growth will support future debt issuances as the district continues to build out...

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