S&P Global Ratings assigned its 'BBB-' rating to Harris County Municipal Utility District (MUD) No. 460, Texas' unlimited-tax bonds series 2019. The outlook is stable. Revenue from an unlimited ad valorem tax levied on all taxable property in the MUD secures the bonds. Bond proceeds will be used to reimburse developers for district projects and to fund certain detention pond costs. After the current $3.18 million issuance, the district will have $10.85 million in debt outstanding. The 'BBB-' rating reflects our view of the district's: Access to Houston's deep and diverse economy; Strong tax base expansion, as evidenced by double-digit growth in the past several years; Status as an in-city MUD, resulting in limited operations and a low direct property
