S&P Global Ratings assigned its 'A' long-term rating to Newport Municipal Utility District (MUD), Texas' $20.84 million series 2021 unlimited-tax bonds. At the same time, we affirmed our 'A' underlying rating (SPUR) and long-term rating on the district's general obligation (GO) debt outstanding. The outlook is stable. After this issuance, the district's direct bonds outstanding are approximately $26.2 million. Revenue from an unlimited ad valorem tax levied on all taxable property within the district secures the bonds. The district will use the bond proceeds to fund water, sewer, drainage facilities improvements within the development. Located within the greater Houston metropolitan statistical area (MSA), the district has access to its deep and diverse economic base, which will likely result in continued
