DALLAS -- The floods in southeastern Texas are not expected to have an immediate impact on municipal bond ratings in the region, although further assessment of the damage is necessary to evaluate longer-term problems, analysts said yesterday.

The floods, which have swamped dozens of Texas counties for more than 10 days, have caused the loss of up to 6,797 homes, the displacement of 13,000 people, the closure of major roads, and a 200,000-gallon spill of fuel and oil products along the San Jacinto River.

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