Standard&Poor's Ratings Services affirmed its 'BBB-' long-term rating and underlying rating (SPUR), with a stable outlook, on Brazoria County Municipal Utility District (MUD) No. 21, Texas' general obligation (GO) debt. The rating continues to reflect our assessment of the district's: High overall net debt burden, and Very high direct tax rate. These credit weaknesses are mitigated, in part, by the district's: Mature development, limiting any significant additional capital needs; and Strong income levels, boosted by the district's participation in the Houston metropolitan area. Brazoria County MUD No. 21 encompasses roughly 625 acres in the master-planned community of Savannah, Texas, about 12 miles south of downtown Houston. The district is entirely within Pearland, Texas' (AA-/Stable GO debt rating) extraterritorial
