S&P Global Ratings assigned its 'A' long-term rating to Brazoria County Municipal Utility District (MUD) No. 21 , Texas' roughly $4.5 million series 2025 unlimited-tax park bonds. S&P Global Ratings also affirmed its 'A' underlying rating (SPUR) on the MUD's existing general obligation debt. The outlook is stable. The bonds are secured by a continuing direct annual ad valorem tax, with no legal limitations on the rate or amount, levied on all taxable property within the MUD. Officials plan to use the proceeds from the series 2025 bonds to reimburse and prefund park development projects within the district. The rating reflects our assessment of the district's sizable and growing tax base, which is supported by very strong reserves, yet offset
