S&P Global Ratings assigned its 'A' long-term rating to Galveston County Municipal Utility District (MUD) No. 12, Texas' approximately $1.85 million series 2024 unlimited-tax general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'A' rating on the MUD's existing GO debt. The outlook is stable. The bonds are secured by an unlimited ad valorem tax levied on all taxable property within the district. Officials plan to use series 2024 bond proceeds to finance rehabilitation projects related to the district's water and sanitary sewer facilities. Located 42 miles southeast of Houston's central business district, the 377-acre, primarily residential, district has a very diverse tax base that has experienced continuous growth during the past three years, growing by
