Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Cedar Hill, Texas' series 2011 general obligation (GO) refunding bonds. At the same time, Standard&Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the city's existing GO debt. The outlook is stable. We believe the ratings reflect the city's: Participation in the diverse Dallas-Fort Worth metropolitan area economy with direct access to the greater Dallas labor market; Strong wealth and income indicators; Historically sound financial position and conservative management practices with long-term planning; and Limited capital needs, coupled with above-average debt amortization. These strengths are partly offset by our opinion that the city's overall debt is moderately high. An ad valorem tax pledge of the
