Standard&Poor's Ratings Services assigned its 'A-' long-term rating, and stable outlook, to Newport Municipal Utility District, Texas' series 2009 unlimited-tax bonds. Standard&Poor's also affirmed its 'A-' underlying rating (SPUR), with a stable outlook, on the district's general obligation debt. The rating reflects our view of the district's: Strong and stable assessed value (AV) growth, Low property tax rates, and Access to the Houston MSA. In our view, the district's moderately high debt burden, coupled with a slight decline in financial position, partly offsets these strengths. An unlimited ad valorem tax on all taxable property within the district secures the bonds. Officials will use bond proceeds to pay the costs associated with park improvements, including construction, engineering,
