DALLAS -- Flood damage does not appear to be extensive in many municipalities in southeastern Texas, and is not expected to prompt downgrades of regional municipal bond ratings in the near term, analysts said.

"It's really not that bad," said Chris Evangel, supervisor of the southwest region for Moody's Investors Service. "The Municipal Utility Districts are potentially the most vulnerable."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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