...May 14, 2021 FARMERS BRANCH (S&P Global Ratings) May 14, 2021--S&P Global Ratings assigned its '##' long-term rating to Houston, Texas' $325.0 million series 2021A and $100.31 million taxable series 2021B combined utility system (CUS) first lien revenue refunding bonds. The city plans to use the proceeds of the series 2021A bonds to convert commercial paper (CP) notes outstanding to long-term debt. The series 2021B bond proceeds will be used to refund eligible maturities of its series 2012D and 2013B first lien bonds for savings purposes. At the same time, S&P Global Ratings affirmed its '##' rating on the system's first-lien revenue bonds outstanding and its '##+' rating on the system's previous ordinance bonds. The ratings reflect, in our opinion, the combination of an extremely strong enterprise risk profile and a very strong financial risk profile. The outlook on the long-term rating is stable. The CUS supports about $6.28 billion in first-lien utility revenue bonds. S&P Global Ratings...
