S&P Global Ratings assigned its 'A' long-term rating to Newport Municipal Utility District(MUD), Texas's $12.43 million series 2023 unlimited-tax bonds. At the same time, S&P Global Ratings affirmed its 'A' underlying rating (SPUR) and long-term rating on the district's general obligation (GO) debt outstanding. The outlook is stable. Revenue from an unlimited ad valorem tax levied on all taxable property within the district secures the bonds. Bond proceeds will fund water, sewer, drainage facilities, and improvement projects within the district. The MUD's series 2013 and series 2016 unlimited-tax and revenue refunding bonds are additionally secured by a pledge of the net revenues of the district's waterworks and sewer system. The rating on these bonds reflects the district's unlimited ad valorem
