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Fitch Rates Montgomery Co. MUD 18, Texas GOs 'BBB+'; Withdraws Underlying Rating.


AUSTIN, Texas -- As part of ongoing surveillance, Fitch fitch: see polecat.  upgrades to 'BBB+' from 'BBB' the underlying rating on Montgomery County Montgomery County may refer to:
  • Montgomery County, Alabama
  • Montgomery County, Arkansas
  • Montgomery County, Georgia
  • Montgomery County, Illinois
  • Montgomery County, Indiana
  • Montgomery County, Iowa
  • Montgomery County, Kansas
 Municipal Utility District No. 18, Texas (the district) unlimited tax bonds, series 2000. The upgrade reflects continued healthy tax base growth, ongoing residential construction activity, and satisfactory financial operating results. The rating also incorporates above-average debt ratios and the risks, albeit diminished di·min·ish  
v. di·min·ished, di·min·ish·ing, di·min·ish·es

v.tr.
1.
a. To make smaller or less or to cause to appear so.

b.
, associated with the development of an upscale residential community. In addition, at the request of the district's financial adviser, Fitch withdraws its underlying rating on the series 2000 bonds.

Fitch maintains an 'AAA' rating on the series 2000 bonds, which are insured by Financial Security Assurance, Inc. and whose insurer financial strength is rated 'AAA' by Fitch.

Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used.

In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide.
 of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental  are also available from the 'Code of Conduct' section of this site.
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Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Aug 26, 2005
Words:181
Previous Article:Correction: Fitch Ratings Places First Bancorp on Rating Watch Negative.
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