DALLAS (Standard&Poor's) Oct. 9, 2014--Standard&Poor's Ratings Services raised its underlying rating (SPUR) to 'AA-' from 'A+' on Red Oak, Texas' outstanding general obligation (GO) debt. At the same time, Standard&Poor's assigned its 'AA-' rating to the city's series 2014 GO refunding bonds. The outlook on all ratings is stable. "The upgrade is based on the city's consistently strong budgetary flexibility and liquidity position," said Standard&Poor's credit analyst Emmanuelle Lawrence. Serving a population of about 11,400 and situated approximately 20 miles south of Dallas in Ellis County, Red Oak is primarily a residential community. The city's tax base has continued to grow, both in terms of residential and commercial growth. RELATED CRITERIA AND
