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    This document is a filing cover sheet submitted to EMMA regarding several bond issues of the City of Sugar Land, Texas. It notifies of a material event - the downgrade of the underlying rating for the City's waterworks and sewer system revenue bonds from AA+ to AA by Fitch Ratings on March 3, 2020. The filing was made by HTS Continuing Disclosure Services on behalf of the City.

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    This document is a filing cover sheet submitted to EMMA regarding several bond issues of the City of Sugar Land, Texas. It notifies of a material event - the downgrade of the underlying rating for the City's waterworks and sewer system revenue bonds from AA+ to AA by Fitch Ratings on March 3, 2020. The filing was made by HTS Continuing Disclosure Services on behalf of the City.

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    © All Rights Reserved
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    10 views2 pages

    ER1432036

    Uploaded by

    s88831139
    This document is a filing cover sheet submitted to EMMA regarding several bond issues of the City of Sugar Land, Texas. It notifies of a material event - the downgrade of the underlying rating for the City's waterworks and sewer system revenue bonds from AA+ to AA by Fitch Ratings on March 3, 2020. The filing was made by HTS Continuing Disclosure Services on behalf of the City.

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    © All Rights Reserved
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    of 2

    Rule 15c2-12 Filing Cover Sheet

    This cover sheet is sent with all submissions made to the Municipal Securities Rulemaking Board’s Electronic Municipal
    Market Access (“EMMA”) pursuant to Securities and Exchange Commission (SEC) Rule 15c2-12 or any analogous state
    statute.
    Issuer Name: City of Sugar Land, Texas

    Issue(s): $ 21,925,000 Waterworks and Sewer System Revenue Bonds, Series 2012
    $ 9,025,000 Waterworks and Sewer System Revenue Refunding Bonds, Series 2012A
    $ 15,765,000 Waterworks and Sewer System Revenue Bonds, Series 2013
    $ 15,750,000 Waterworks and Sewer System Revenue and Refunding Bonds, Series 2015
    $ 31,710,000 Waterworks and Sewer System Revenue and Refunding Bonds, Series 2016
    $ 19,780,000 Waterworks and Sewer System Revenue Bonds, Series 2017
    $ 13,660,000 Waterworks and Sewer System Revenue Bonds, Series 2019

    Filing Format ☒electronic ☐ paper; If available on the Internet, give URL:_______________

    CUSIP Numbers to which the information filed relates (optional):


    ☐ Nine-digit number(s) (attach additional sheet if necessary):

    X Six-digit number if information filed relates to all securities of the issuer: 864881

    Description of Material Event Notice/Other Material Information

    1. ☐ Principal and interest payment delinquencies


    2. ☐ Non-payment related defaults
    3. ☐ Unscheduled draws on debt service reserves reflecting financial difficulties
    4. ☐ Unscheduled draws on credit enhancements reflecting financial difficulties
    5. ☐ Substitution of credit or liquidity providers, or their failure to perform
    6. ☐ Adverse tax opinions or events affecting the tax-exempt status of the security
    7. ☐ Modifications to rights of security holders
    8. ☐ Bond calls and tender offers
    9. ☐ Defeasances
    10. ☐ Release, substitution, or sale of property securing repayment of the securities
    11. ☒ Rating changes
    12. ☐ Bankruptcy, insolvency, receivership or similar event of the obligated person
    13. ☐ Merger, consolidation or acquisition of the obligated person or issuer, if material
    14. ☐ Appointment of a successor or additional trustee or name change of a trustee, if material
    15. ☐ Incurrence of a financial obligation of the obligated person, or agreement to covenants, events of default, remedies,
    priority rights, or other similar terms of a financial obligation, any of which affect security holders
    16. ☐ Default, event of acceleration, termination event, modification of terms, or other similar events under the Terms of a
    financial obligation of the obligated person, any of which reflect financial difficulties
    17. ☐ Notice of non-compliance: failure to provide annual financial information
    18. ☐ Other material event or information (specify) Other Event Type

    Financial & Operating Data Disclosure Information

    ☐ Annual Financial Report or CAFR


    ☐ Financial Information & Operating Data
    ☐ Other (describe): Other Event Type

    Fiscal Period Covered: ______________________________________


    ☐ Monthly ☐ Quarterly ☐ Annual ☐ Other: ______
    I hereby represent that I am authorized by the issuer or its agent to distribute this information publicly:

    Name: Petia Moutaftchieva Title: VP, Disclosure


    Employer: HTS Continuing Disclosure Services, A Division of Hilltop Securities _ __ _
    Voice Telephone Number: +12149534034
    Email Address: [email protected]
    1
    NOTICE OF MATERIAL EVENT
    FOR CONTINUING DISCLOSURE REQUIREMENTS
    OF SEC RULE 15c2-12
    March 6, 2020

    This Notice is being provided by the City of Sugar Land, Texas (the “Issuer”), pursuant to the requirement of
    Rule 15c2-12 (the “Rule”) of the Securities and Exchange Commission Act of 1934, as notification of
    occurrence of the following material event as defined in paragraph (b)(5)(i)(C) of the Rule.

    On March 3, 2020, the underlying rating for the above referenced debt of the Issuer, as assigned by Fitch
    Ratings, has been downgraded to AA from AA+.

    For further information, please contact Fitch Ratings.

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