S&P Global Ratings assigned its 'BBB-' long-term rating to Harris County Municipal Utility District (MUD) No. 460, Texas' anticipated $7.2 million unlimited tax road bonds series 2022. At the same time, S&P Global Ratings affirmed its 'BBB-' long-term and underlying ratings on the district's existing debt. The outlook is stable. Revenue from an unlimited ad valorem tax levied on all taxable property in the MUD secures the bonds. The bond proceeds will be used to reimburse developers for land acquisition and road construction costs, and fund capitalized interest. Approximately eight miles south of Houston, the district benefits from the city's deep and diverse economic base, which has resulted in very strong tax base growth. In 2021 the district annexed additional
