BOSTON (Standard&Poor's) Dec. 6, 2012--Standard&Poor's Ratings Services said today that it raised its underlying rating (SPUR) on Newport Municipal Utility District (MUD), Texas to 'A' from 'A-'. "The upgrade reflects the district's moderately high debt level and mature development," said Standard&Poor's credit analyst Daniel Cuddy. Standard&Poor's also assigned its 'A' long-term rating to the district's waterworks and sewer system combination unlimited-tax and revenue refunding bonds, series 2013. The outlook on all ratings is stable. The ratings reflect our view of the district's: Access to the deep and diverse economy of the Houston metropolitan statistical area (MSA), Low property tax rates providing revenue-raising flexibility, and Mature stage of development, limiting future capital needs.
