The credit profile of Harris County Municipal Utility District 489, TX (A3 stable) benefits from a large and rapidly growing tax base in the Houston (Aa3 stable) metropolitan area and a lack of pension or other post-employment benefit (OPEB) liabilities. The financial operations have been stable with reserves continuing to improve due to surplus operations. These factors are balanced against the district's sizeable debt burden that will remain elevated due to its capital needs as development continues.