Standard&Poor's Ratings Services affirmed its 'BBB-' underlying rating (SPUR), with a stable outlook, on Brazoria County Municipal Utility District (MUD) No. 21, Texas' outstanding debt. The affirmation reflects the district's: High overall net debt burden; Adequate financial position, but below average by special district standards; and High tax rate. These factors are offset, in part, by the district's: Advanced status development; and Very strong wealth and income levels, which are boosted by the MUD's participation in the Houston metropolitan area. An unlimited ad valorem tax pledge secures the bonds. The district, with an estimated population of 3,400, encompasses 625 acres about 12 miles south of downtown Houston. The MUD is entirely within Pearland's extraterritorial jurisdiction. The district's water
