S&P Global Ratings assigned its'BBB+'long-term rating to the Harris County Municipal Utility District (MUD) No. 460 , Texas's approximately $7.84 million series 2026 unlimited-tax road bonds. At the same time, S&P Global Ratings affirmed its'BBB+'underlying rating (SPUR) on the MUD's general obligation (GO) debt. The outlook is stable. The series 2026 bonds and outstanding GO debt are secured by revenue from an unlimited ad valorem tax levied on all taxable property within the MUD. The series 2026 proceeds will reimburse developers for advancing funds to construct road facilities in the MUD. The rating reflects our view of the district's growing status of development and high direct debt profile. Slightly offsetting these pressures are its stable financial
