Mountain House Community Services District, CA Bond Rating Affirmed At ?AA? On Criteria Application; Removed From UCO

SAN FRANCISCO (S&P Global Ratings) Feb. 24, 2025--S&P Global Ratings affirmed its 'AA' long-term rating on Mountain House Community Services District (CSD), Calif.'s series 2021 lease revenue bonds and removed the rating from Under Criteria Observation (UCO). The outlook is stable. The rating is based on the application of our "Methodology For Rating U.S. Governments," published Sept. 9, 2024. The bonds are payable from base rental payments by the district, as lessee, to the Mountain House Financing Authority, as lessor, for the use of certain assets. Under the property lease agreement, the district has covenanted to budget and appropriate annual payments for use of the leased assets. Consistent with our "Issue Credit Ratings Linked To U.S. Public Finance Obligors' Creditworthiness"

...February 24, 2025 SAN FRANCISCO (S&P Global Ratings) Feb. 24, 2025--S&P Global Ratings affirmed its '##' long-term rating on Mountain House Community Services District (CSD), Calif.'s series 2021 lease revenue bonds and removed the rating from Under Criteria Observation (UCO). The outlook is stable. The rating is based on the application of our "Methodology For Rating U.S. Governments," published Sept. 9, 2024. The bonds are payable from base rental payments by the district, as lessee, to the Mountain House Financing Authority, as lessor, for the use of certain assets. Under the property lease agreement, the district has covenanted to budget and appropriate annual payments for use of the leased assets. Consistent with our "Issue Credit Ratings Linked To U.S. Public Finance Obligors' Creditworthiness" criteria, published Nov. 20, 2019, we rate the lease revenue bonds one notch lower than the district's general creditworthiness to account for the appropriation risk associated with the lease...

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