S&P Global Ratings assigned its 'AA+' long-term rating to the City of Horseshoe Bay , Texas' approximately $9.9 million series 2025 combination tax and revenue certificates of obligation (COs). We also affirmed our 'AA+' long-term rating on the city's general obligation (GO) bonds and COs outstanding. The outlook is stable. The rating reflects the application of our criteria " Methodology For Rating U.S. Governments ," published Sept. 9, 2024, on RatingsDirect. The GO bonds and COs are payable from an ad valorem tax levied on all taxable property in the city, within the limits prescribed by law. The COs are additionally secured by a limited pledge not to exceed $1,000 of surplus water and wastewater system revenue. Given the de
