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Published on 2/12/2008 in the Prospect News Municipals Daily.

S&P rates Texas' Harris County Flood Control bonds AA+/A-1+

Standard & Poor's said it assigned an AA+/A-1+ rating and stable outlook to Harris County Flood Control District, Texas' $157 million of series 2008B variable-rate contract tax refunding bonds issued for Harris County.

The short-term component is based on a standby bond purchase agreement provided by Dexia Credit Local.

S&P also said it affirmed its AA+ standard long-term rating and stable outlook on the district's debt previously issued for the county.


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