S&P Global Ratings has revised its outlook to stable from negative and affirmed its 'A' rating on Houston, Texas' convention and entertainment facilities department hotel occupancy tax (HOT) and special revenue refunding bonds. The outlook revision reflects a material return of revenue growth in 2022 and subsequent improvement in debt service coverage (DSC). The bonds are special limited obligations of Houston that are payable solely from and secured equally and ratably by a lien on the pledged revenue, which includes the city's HOT at a rate of not less than 7% (5.65% of which constitutes the pledged HOT) for so long as the series 2021B bonds are outstanding and thereafter at a rate of at least 5.65% for so long
