Summary: Bissonnet Municipal Utility District, Texas; General Obligation

S&P Global Ratings assigned its 'A' long-term rating to Bissonnet Municipal Utility District (MUD), Texas' $4.83 million series 2020 waterworks and sewer system combination unlimited-tax and revenue bonds. At the same time, we affirmed our 'A' long-term rating on the district's existing general obligation (GO) debt. The outlook is stable. An unlimited ad valorem tax levied on all taxable property in the district and from certain net revenues, if any, of the district's waterworks and sewer system secure the bonds; however, we rate the bonds based on the GO pledge. Officials intend to use bond proceeds for water and wastewater facility repair and renovation costs. Following this issuance, the district will have about $17.5 million of net direct debt. Bissonnet

...S&P Global Ratings assigned its 'A' long-term rating to Bissonnet Municipal Utility District (MUD), Texas' $4.83 million series 2020 waterworks and sewer system combination unlimited-tax and revenue bonds. At the same time, we affirmed our 'A' long-term rating on the district's existing general obligation (GO) debt. The outlook is stable. An unlimited ad valorem tax levied on all taxable property in the district and from certain net revenues, if any, of the district's waterworks and sewer system secure the bonds; however, we rate the bonds based on the GO pledge. Officials intend to use bond proceeds for water and wastewater facility repair and renovation costs. Following this issuance, the district will have about $17.5 million of net direct debt....

Summary