Montgomery County Municipal Utility District No. 119
CUSIP 61371FJJ9
- Issue Currency: United States of America Dollars
- Announcement Date: 27-Jun-2017
- News: Effective June 26, 2017, S&P Global Ratings, a business unit of Standard & Poor`s Financial Services LLC (S&P) downgraded the financial strength of its long-term and underlying rating of the Issuer to A from AA-. For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 27-Jun-2017
- News: EffectiveJune 26, 2017, S&P Global Ratings, a business unit of Standard & Poor`s Financial Services LLC (S&P) downgraded the financial strength of its long-term and underlying rating of the Issuer to A from AA-. For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 16-Aug-2018
- News: This Event Notice is given by Montgomery County Municipal Utility District No. 119 (the ""Issuer""), pursuant to Rule 15c2-12 of the Securities and Exchange Commission (the ""Rule""), with respect to the Montgomery County Municipal Utility District No. 119, Unlimited Tax Road Bonds, Series 2017 (the ""Bonds""). The information in this Event Notice is provided solely to comply with the Issuer`s contractual commitments to provide the information specified therein. This Event Notice is not made by the Issuer in connection with a purchase or sale of Bonds and accordingly is not intended to contain all information material to a decision to purchase or sell Bonds. Pursuant to the Rule, the following credit rating downgrade and rating withdrawal are being reported by the District: Moody`s Investors Service (""Moody`s"") downgraded National Public Finance Guarantee Corporation (""NPFG"") from A3 to Baa1 on January 17, 2018. NPFG issued a municipal bond insurance policy for the Bonds, which Bonds were rated by Moodys. Following the downgrade of NPFG by Moody`s, the insured rating on the Bonds was also downgraded to Baa1. S&P Global Ratings, a business unit of Standard & Poor`s Financial Services LLC (""S&P""), withdrew its rating for NPFG on December 1, 2017. NPFG issued a municipal bond insurance policy for the Bonds, which Bonds were rated by S&P. Following the withdrawal by S&P, the Bonds no longer have an insured rating from S&P. The rating of the Bonds by Moodys and S&P reflects only the views of such organization at the time such rating is given, and the Issuer makes no representation as to the appropriateness of the rating. There is no assurance that such rating will continue for any given period of time or that they will not be revised downward or withdrawn entirely if, in the judgment of Moodys or S&P, circumstances so warrant. Any such downward revision or withdrawal of the rating may have an adverse effect on the market price of the Bonds. Any explanation of the Moody`s rating may be obtained from Moody`s Investors Service, 250 Greenwich Street, New York, New York 10007 or www.moodys.com. Any explanation of the S&P rating may be obtained from Standard & Poor`s Rating Services, 55 Water Street, New York, New York 10041 or www.standardandpoors.com. The information set forth herein has been obtained from records of the Issuer and other sources which are considered reliable. Any statement in this Event Notice which includes a matter of opinion, whether or not expressly so stated, is intended as such, and not as a representation of fact. The information contained in this Event Notice is provided as of the respective dates specified herein and is subject to change without notice, and the filing of this Event Notice shall not, under any circumstances, create any implication that there has been no change in the affairs of the Issuer or in the other matters described herein since the date as of which such information is provided.
