Standard&Poor's Ratings Services raised its underlying rating (SPUR) on Cedar Hill, Texas' existing general obligation (GO) debt to 'AA' from 'AA-' based on the city's historical very strong financial position and continued significant economic expansion. At the same time, Standard&Poor's assigned its 'AA' standard long-term rating to Cedar Hill's $7.5 million series 2008 GO bonds. The ratings reflect: Participates in the diverse Dallas-Fort Worth metropolitan statistical area (MSA) economy with direct transportation access to the greater Dallas, Texas labor market; Strong financial management; and Very strong income levels. These strengths are offset, in part, by our opinion that the city has moderately high overall debt levels. The city's full faith and credit pledge secures the bonds.
