DALLAS - The Hidalgo County Drainage District No. 1in Texas received an upgrade from Standard & Poor's to AA-minus from A-plus as it prepares to issue $72 million of general obligation bonds Tuesday to strengthen levees on the Rio Grande.

About two weeks ago, the U.S. section of the International Boundary and Water Commission authorized the project, for which the district will use bond proceeds to raise a 3.7-mile levee in the city of Mission.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.