...CENTENNIAL (S&P Global Ratings) Dec. 6, 2017--S&P Global Ratings assigned its '##' rating to Waller County, Texas' series 2017 general obligation (GO) bonds. The outlook is stable. "The stable outlook reflects our opinion that Waller County will maintain its very strong reserves and strong budgetary performance," said S&P Global Ratings credit analyst Kimberly Barrett. "Therefore, we do not expect to change the rating within the two-year outlook period." The bonds are payable from an ad valorem tax, levied on all taxable property in the county, within the limits prescribed by law. The maximum allowable ad valorem tax rate for Texas counties is 80 cents per $100 of assessed value (AV) for all purposes, with the portion dedicated to debt service limited to 40 cents. The county's levy is below the maximum at 58.48 cents per $100 of AV, including 1.39 cents for debt service. Despite these limitations imposed by the state, we do not make a rating distinction between the county's GO pledge and...
