Standard&Poor's Ratings Services affirmed its 'BBB+' underlying rating, and stable outlook, on Fort Bend County Municipal Utility District (MUD) No. 35, Texas' outstanding general obligation debt. The rating, in our view, reflects the district's: Mature development, limiting any significant future capital needs; and Good financial position. The district's high overall net debt burden constrains the ratings. Fort Bend County MUD No. 35 is located approximately 25 miles west of downtown Houston and is within the city's extraterritorial jurisdiction. The 768-acre district has been developed primarily as a residential development, with a small commercial presence. Farm-to-Market Road 1093, also known as Westheimer Road, and Westpark Tollway provide district residents easy access to the Houston metropolitan statistical area. The district
