Standard & Poor's Ratings Services said it raised its long-term and underlying ratings on Williamson County Municipal Utility District No. 11, Texas' general obligation debt one notch, to A-minus from BBB-plus.
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The outlook is stable for all ratings.
"The upgrade is based on the district's moderating overall debt profile, which while still high is now commensurate with A-minus rated credits," said Standard & Poor's credit analyst Oscar Padilla. In addition, continued assessed valuation growth has boosted the district's financial position to a strong level.
The 498-acre district is in the city of Round Rock's extraterritorial jurisdiction, about three miles north of downtown.
