DALLAS (Standard&Poor's) Nov. 11, 2008--Standard&Poor's Ratings Services raised its underlying rating (SPUR) on Newport Municipal Utility District, Texas' waterworks and sewer system revenue debt to 'BBB' from 'BBB-' due to the district's continued maturation, resulting in moderation of overall debt levels. Standard&Poor's also assigned its 'BBB' standard long-term rating to the district's $4.7 million series 2008 unlimited tax general obligation (GO) bonds. The outlook on the ratings is stable. The 1,928-acre Newport Municipal Utility District is 23 miles northeast of Houston, Texas and is within the city's extraterritorial jurisdiction in Harris County. Newport Municipal Utility District's financial position is good. The district reported a $1.6 million unreserved general fund balance, or 60% of operating
