The upgrade on Cedar Hill, Texas' GO debt outstanding to 'A+' and 'A+' Standard&Poor's underlying rating (SPUR) is based on the city's sustained tax base growth and diversification. Standard&Poor's Ratings Services' also assigned its 'A+' rating to the city's series 2003 GO refunding bonds and series 2003 certificates of obligation. The ratings are supported by the city's: Participation in the diverse Dallas-Fort Worth MSA's economy with good transportation access to the greater Dallas, Texas labor market; High income and wealth levels; and Consistently strong financial performance and position. These strengths are offset by the city's: Escalating long-term liability to the U.S. Army Corps of Engineers, requiring annual set-asides from the water and sewer enterprise fund; and
